While other countries are embracing cryptocurrencies, Russia does not just plan to ban them, it plans to criminalize them! The new legislation defines cryptocurrencies as properties and bans their circulation and issuance on Russian territory. Once the proposed legislation is signed into law it individuals and organizations will be prohibited with operate with any cryptocurrency, including processing payments for goods and services. People who break the law will be fined between 50k rubles ($700 on average) to 500k rubles ($7 000). Organizations that do the same can be fined up to 2 million rubles or $28K. But that is not all – Russian authorities can imprison people up to 7 years depending on the size of the illegal operation and the damage they think it has caused the Russian financial system. I really don't think criminalizing cryptocurrencies on top of banning them will do any good.
Laughs. Didn't they had a plan of overthrowing $ with cryptos ? (just 5 months ago) Or just another game of the media, to burst that selloff for cheap buy. The ban without any warnings, that would be a shock tho. (for cryptotards) Could be that they were to slow to react against ICE (if they could react in any ways), & bans it - to stop the outflow of capital into US. ICE would know who's the major holders. (?) How would Russians know tho (?) , got some insiders there huh (Conspiracy theories)
This kind of statements resemble statements from religious sects. LOL. Putin wants to control everything in Russia. He does not tolerate that other criminals want a piece of the cake. All belongs to him and his gang.
Strange .... Russia and China have totally different view. similarly some investors think BTC will go to $100 000 or even $1 000 000 and beyond even though cryptocurrency supply is infinity and endless. And some traders think BTC will go to $1000 or even $1 Bitcoin expert said ....
Until whimsy and hopium no longer prevail, crypto currencies can be anything. After all, they have no intrinsic value and are not backed by anything... except the hopes of owners.
Wow, so mean. I'm just speaking the truth, you can't ban something that everyone in the world uses, you'd just get trampled on! Just like the way the united states can't do anything about it but regulate it. It would be like trying to stop the hoover dam with a toothpick.