Russia, which has long been pretty unwelcoming to cryptos, has plans to fully ban them. This became clear from recent official reports by Reuters, who cited two different anonymous sources connected to the country’s financial regulator. According to these reports, the main motivation behind the ban are concerns about the country’s financial stability in times of increased cryptocurrency transactions. Crypto regulation in Russia has been a mess for a while now too. On one hand, using digital coins as payment got banned last year, on another hand officials recognized those to be property. There was concern about taxing cryptos, a few legislations were drafted, but even fewer made their way into becoming laws. Russia’s Central Bank is apparently already communicating with crypto exchanges about the ban. All that said, even if the ban became reality, it would not affect existing cryptocurrency holdings. Personally, I wonder if this law will even come to fruition.
In Russia, everything that cannot be controlled by Putin for 100%, is by definition forbidden. Only a few politicians, oligarchs and Putin are allowed to use crypto's.
The markets are becoming less and less reactive to these "bans." And all countries that have banned it don't even know if a ban would hurt or help them. It's actually embarrassing to watch the stupidity of the leaders of these countries.
Stupid mistake, not the first and wont be the last. Countries will soon learn that they are not banning bitcoin ... they are just banning themselves from the bitcoin network
Smart move by Russia (and China, India ... ). When there is mother-of-all-Tulip-Mania, Russia will be having the last laugh.
I honestly can't blame them. You can't run a country on sound money. They also won't be able to exploit it either of course, but it will be a painful transition.
You sound like a member of some dark religious sekt. Believe your Lord and never question or critically analyze what he/she is telling. Maybe this? https://www.spaghettimonster.org/
Yes, run with it or get left in the dust like some of the people on here who are commenting. No, India can't make up their minds on whether it is good or bad, so they have banned using crypto for payments not banning trading it. Which is almost the same thing