Bitcoin BANNED in Russia? | Attention! Things are different … –


As unfortunately often happens, the FUD takes possession of the scene crypto, with not always exact news reported by the press, in Italy and beyond.

Last FUD in order of appearance was the supposed Russian ban for Bitcoin and cryptocurrencies, a ban that would have been proposed by the Central Bank and that, according to some press, he would have a great chance of being approved. Things, as often happens, are not exactly like this. We will try to clarify during a day not at the top for the sector, with $ BTC that continues to sail around the $ 38,000 and the rest of the sector that has the same difficulties.

No, there is still no crypto ban in Russia

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What is really happening in Russia?

The message that has passed through, through headlines but also through long, poorly informed articles is that the ban from Bitcoin and other cryptocurrencies is now almost done in Russia, given that the move was proposed by the central bank.

In reality this is not exactly the case, because the Russians, even if this law were to pass, will have the possibility to detain $ BTC, Ethereum and the others cryptocurrencies freely, to be treated however as financial assets and not as a spendable currency. But let’s try to be clear point by point.

  • How will crypto be banned?

In reality, as mentioned above, if this proposal were to pass, private individuals would still have the freedom to hold any cryptocurrency, treating it as financial asset. However, it will not be possible to use them for payment. And it will not be possible at the same time for the companies keep them in cash.

Also false is the claim that the offenders will be destined for prison. They will be provided for in the case of fines, the definition of which can only pass from Duma, the local parliament.

The move does not have any kind of political support at least for the moment. To speak is there Russian central bank, which also deals with regulating the markets and has always been rather opposed to the introduction of cryptocurrencies in the country. Among the problems often highlighted we have the pseudo-anonymity of users and also the fact that significant quantities of capital have now moved towards that market.

How many chances does he have to pass?

Hard to say now, but the fact that the central bank making such a proposal does not mean automatic inclusion in the Russian code. Far from it, there are already large movements of opinion and politicians in defense of citizens’ freedom to use cryptocurrencies.

Furthermore the central bank itself he asked market operators to provide their opinions and opinions, to enrich the discussion and to make any transactions in line with their feelings.

For many it will be impossible to implement

A ban of this type will be very difficult to implement, even if you can, for example, identify who is running mining rig, so much for the Bitcoin mining as for other cryptocurrencies.

However, pursuing them could have very significant costs, which could make the candle too expensive for the game. This is what comes to us from Russia, where this is actually fake news for now, that is the implementation of a ban of this type, is treated much more lightly than in Europe and in the specialized and non-specialized press.

Read More: Bitcoin BANNED in Russia? | Attention! Things are different … –

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