Ninjastic
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Post
Topic
Board Economics
Re: Russia gives in and considers accepting bitcoin exchange
by
Tumanggor
on 20/02/2022, 16:50:57 UTC
Quote from: paxmao on February 18, 2022, 09:46:46 PM
https://www.euronews.com/next/2022/02/09/russia-s-government-and-central-bank-agree-to-treat-cryptos-as-currency

From considering a ban to admitting that it is nearly impossible to prevent the use of bitcoin, that is already extended to millions of its citizens that will not stop their trading and holding just for an official ban, the government has chosen a much wiser path, legalise and make sure that the actors of the market are clearly identified and can operate in full compliance with legislation.
There are positive and negative impacts of emerging crypto regulations in Russia

The positive impact is that crypto owners are safer because they are legally protected, and the government can minimize dirty transactions using crypto

but the negative effect is that the privacy of crypto users there will certainly no longer exist, everything is visible and tracked by the government