Post
Topic
Board Economics
Re: Russia gives in and considers accepting bitcoin exchange
by
Sterbens
on 20/02/2022, 23:14:36 UTC
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.

It is undeniable that the source of Russia's wealth will be the benchmark that will provide a bit of a big boost. Plus the widely accepted adoption of Bitcoin has had a good economic impact. Russia is the largest country now open to Bitcoin. I firmly believe that this adoption will make price changes. Because the level of speculation in Russia about cryptocurrencies is a hunting ground for investors and elements of the government.

Not to rule out the possibility that after the official financial amendments in Bitcoin, President Putin could have imposed the payment of government salaries with Bitcoin. The most important thing is to be accepted first, after that there will be a lot of good considerations about the payment system.