Quote from: Fivestar4everMVP on Today at 07:11:23 AM

Quote from: KillerEyez on Today at 06:16:39 AM

Hello

Just read that Russia is planning to open its own official Bitcoin and crypto exchange 👀

Like another country getting into crypto could mean better global trading volumes yea?

Maybe even new gateways for traders?

Does it also mean that it will boost global or state-level Bitcoin adoption, or complicate things because of tighter surveillance and control?

Your Opinion?

Well, i think this is sure a good news for bitcoin and crypto currency in terms of global acceptance and adoption, what this means is that the government of Russia have accepted bitcoin and crypto in general and her citizens can freely adopt, trade, exchange bitcoin and other available cryptocurrencies on the exchange without any form of hindrance (perhaps).

But in terms of surveillance and regulation, maybe this is not so good for the people of Russia most especially if the government will mandate citizen in the country to only use the Russia government owned exchange, what this entails is that the government have gotten easy access and means through which they can monitor every one that is into crypto currency in that country, they could easily seize bitcoin and other crypto asset belonging to any citizen of the country at the slightest provocation, if I live in Russia, I won't ever make use of the government owned exchange for any of my crypto related transactions.

Another thing the government can also do outside attempting to mandate the citizens to only use the government owned exchange is to ensure that various other exchanges will be put to stop operating within the country to enable them achieve their goals and objectives, honestly making use of government owned exchange does no longer portray the core value of financial freedom and the high level privacy we are enjoying in the crypto space with that interference of the government, while it can be advantageous in terms increasing adoption for government to have their own exchange the disadvantages can be more weighing to the crypto community compared to the advantage of we consider privacy and freedom as the top most core value for the crypto and Bitcoin inclusive.