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Topic: Putin, Russian central bank come down hard against bitcoin (Read 682 times)

TheQuin

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 05:42:15 AM

#21

Quote from: Savvycrypto on October 11, 2017, 01:31:38 AM

According to www.bloomberg.com Putin come down hard against bitcoin by calling for more regulations.

The use of cryptocurrencies bears serious risks, which include money laundering, tax evasion and terrorism funding, Putin said at a conference in Sochi.

Source: https:///news/articles/2017-10-10/putin-is-said-to-hold-first-meeting-on-cryptocurrency-rules

That a broken link to the article by the way. Correct one is https://www.bloomberg.com/news/articles/2017-10-10/putin-is-said-to-hold-first-meeting-on-cryptocurrency-rules

This is the most interesting part to me:

Quote

Putin called for building a regulatory environment based on international experience that would defend the interests of business and the state, as well as provide legal guarantees for those using the instruments. Its also important not to put up too many barriers.

It really looks like they're just starting to catch up with the anti money laundering and KYC type systems that have been introduced elsewhere. It's nothing more than that and really will have very little impact in the long run

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Ionico

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 05:43:13 AM

#22

Its Russias turn for some cheap BTC. Governments cant take down BTC without taking down the whole internet. They will probably ease up just like China did and regulate it and TAX it!

farfanx4

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 05:47:59 AM

#23

They can not ban the use of bitcoin.

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giveen

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 05:54:33 AM

#24

You can't blame them what they actually told is right through btc people are invading taxes and using it for all illegal purpose if no action is taken it will be too late. Regarding the price of btc after this announcement no one has to worry because btc pump is on till hard fork.
Sadly something like this will happen in every single country because many are misusing it and not paying the required amount of tax.

Savvycrypto (OP)

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 06:07:21 AM

#25

He also said in the same meeting talking about concurrency.

"I would like to draw your attention to the need to use the advantages that are offered by new technological solutions in the banking sphere..."

"It is important not to create unnecessary barriers, of course, but rather to provide essential conditions for advancing and upgrading the national financial system."

I think is friendship with Trump have negative effect on him...

Source: https://news.bitcoin.com/putin-central-bank-unnecessary-barriers-cryptocurrencies/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

datodota002

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 06:07:37 AM

#26

Quote from: Savvycrypto on October 11, 2017, 01:31:38 AM

it could be happen because bitcoin are really powerfull about what putin said, because the character are really anonymous.

gabmen

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 06:42:22 AM

#27

Quote from: Savvycrypto on October 11, 2017, 01:31:38 AM

If you really think about it, putin's points are valid as it can be used for all these, most concerningly, funding terrorism. I think russia will figure out some ways on regulating crypto since they also have a big market for it.

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lunnatic

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 06:47:42 AM

#28

Quote from: Savvycrypto on October 11, 2017, 01:31:38 AM

All the point about Putin says it's right. We cannot deny it bitcoin must have reason for that and how can resolve all that. This could have an impact on the continuity of Bitcoin in the next day.

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blockchainproject.id

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 09:11:49 AM

#29

Another article saying that putin said to central russian bank to not cause any unnecessary boundaries for cryptocurrencies. But both stance are irrelevant though, Russian according to coindata only count for very small number of transaction, so it definitely won't affect much.

A1exander

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 09:24:02 AM

#30

I'm almost sure that the real purpose is taxation (through regulation and licensing) of exchanges and miners.

Quote from: hdclover on October 11, 2017, 05:36:33 AM

What more can you expect from a communist nation like Russia?

That always make me laugh. Russian government and mass media are openly and blatantly anti-communist and were so for almost 30 years.

Crassula

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 09:40:10 AM

#31

Quote from: A1exander on October 11, 2017, 09:24:02 AM

I'm almost sure that the real purpose is taxation (through regulation and licensing) of exchanges and miners.

Totally agree. There's a big money flow running in front of government. It would be strange if they didn't want to take a piece of it in one or other way.

Voice-Of-Reason

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 09:50:29 AM

#32

Yeah govs will want a piece of the pie, taxation incoming for sure in these countries, which is not a bad thing really

Denker

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 09:53:10 AM

#33

Quote from: Savvycrypto on October 11, 2017, 01:31:38 AM

Fear mongering, that's all it is!
I'm pretty sure Bitcoin and crypto in general won't be banned. As it will be banned in China as well!!
It's all about regulation and taxation.
Even if they would ban Bitcoin in Russia, people will find ways to buy and sell it.
This can not be stopped!!

zeingrind777

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 10:48:46 AM

#34

Quote from: Sithara007 on October 11, 2017, 05:08:17 AM

Quote from: zeingrind777 on October 11, 2017, 02:27:27 AM

I think the president of Russia is right. bitcoin is prone to money laundering and tax evasion. but that does not make bitcoin seekers decline. more and more people are looking for bitcoin

Putin has not made any decision regarding the bitcoin. I am not even sure that he knows about Bitcoin. The recent actions were taken by the Russian Central Bank head, with permission from the finance minister. There is no point in blaming Putin for these small things. And regarding money laundering and tax evasion, what do you think? Are you saying that these things will not happen without Bitcoin?

yes in the absence of bitcoin money laundering and tax evasion do exist. but it's easier to do with bitcoin

grermezter

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 10:56:24 AM

#35

Quote from: Savvycrypto on October 11, 2017, 01:31:38 AM

We cannot deny that what Putin is saying is not true at all, proponents of bitcoins themselves have said that bitcoins and other cryptocurrencies is the best way to launder money through exchanges, Regulating the exchanges will minimize the use of bitcoins in these activities, in my opinion regulation is good for the cryptocurrency system.

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Re: Putin, Russian central bank come down hard against bitcoin

October 11, 2017, 11:50:38 AM

#36

The policy to be undertaken for sure is due to the greater interest and clear for the sake of the state.
so it can be understood that there are restrictions to it.

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