Post
Topic
Board Economics
Re: Russia gives in and considers accepting bitcoin exchange
by
sarmrakib
on 22/02/2022, 16:24:13 UTC

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

No I won't think so that it has such negative effect in that privacy will be revealed. As much it has been legalized it means that the status is no longer illegal and people are free to transact freely and claim to have bitcoin or show wallet but it doesn't restrict that it will be revealed the privacy of owner, bitcoin in Russia is still decentralised. If you talking about privacy revealed that can be when the government is establishing a bitcoin payment portal and outlet that require to pay in through the bitcoin or cryptocurrency maybe they require KYC. If exchange too is asking to do KYC.
This is always good to know that the negative status has been removed and the made it legal .I was almost sure that they will not able to ban it even restrict it cause the huge amount of user will lost their asset and the way of how they were earning regularly .Now the question has come once again if the gov. want to reveal the user how they will really do it cause the user always want to avoid the KYC system for their privacy.I think we need to wait for the clear regulation if really the want to get the information of the user .Let's see how everything will happen in next .