Russia takes an anti-Bitcoin stance from now on

Russia is preparing to establish controls and bans on the use of cryptocurrencies, especially Bitcoin, just as China did in previous days. So the Russian Central Bank would be willing to issue a prohibitive measure towards the use, as a form of payment, of the active crypto.

For Alexey Yakovlev, Minister of Finance of Russia, the only currency that must circulate within Russia is the ruble; It is the one that is recognized as legal tender. Any other form of payment is not recognized by the Russian government.

Cryptocurrencies represent a significant risk to the economy; In addition to being a market open to money laundering, crime profits and terrorist financing. Yakovlev said.

In 2018, three bills were presented, of which 2 were passed. One that legislates on the Civil Code, establishing changes regarding digital rights; and another that addresses fundraising through those platforms known as crowdfunding.

In Russia some retailers use cryptocurrencies to receive their payments, as well as freelancer who receive crypto for the payment of their jobs. These two sectors will be seriously affected by the ban.

The ban announced by the Central Bank of Russia can lead to the majority of businesses carrying out their transactions clandestinely or OTC. And although there has not been an official position, the tendency of the central bank to support the ban was known.

According to reports, Russia is preparing to establish a tightening of policies towards cryptocurrencies, assuming a restrictive position similar to China.

Experts are of the opinion that a total ban on digital currencies is not the answer, but the establishment of a regulatory framework that lays the groundwork for these functions without hindering the national economy and finances.

World powers stand in favor of the development of blockchain technology

The governments of the world's largest economies are working on the possibility of developing their own cryptocurrencies; However, most bet more on the blockchain itself.

China already has a large team of developers and specialists in blockchain; after the idea of creating an internal market with the use of the digital yuan as a national digital currency.

The United States has also requested the Federal Reserve to work on the creation of a national active crypto. Germany, for its part, is studying a bill presented and approved before the German Parliament; just wait for the approval of the 16 member states to make it work.