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Monday, April 24, 2017

Russia To “Recognize” Bitcoin In 2018, Monitor All Transactions

Russia To “Recognize” Bitcoin In 2018, Monitor All Transactions

Russia has announced it may “recognize” Bitcoin fully in 2018, subject to full transaction monitoring.

In line with recent statements by the country’s central bank, Deputy Finance Minister Alexey Moiseev said in an interview quoted by Bloomberg that a wholly legal position was to be taken on cryptocurrency in the future.

Previously, Bitcoin and altcoins had languished in a regulatory gray area, with both users and entities operating in Russia threatened with takedowns and even jail time.

In October, state communications watchdog Roskomnadzor blocked access to peer-to-peer marketplace LocalBitcoins nationwide, developers responding by setting up a dedicated mirror site,

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