Note from the Publisher: We just ran an article at the end of last week noting that the Russian government is considering defining bitcoin as a "foreign currency". The article below gives us insight into why that decision may have come about. Turns out the head of the party mentioned below is an advisor of Putin, and in Russia, it's always VERY good to be a friend or advisor of the president.
"Bitcoin is on the mind of just about everyone in the world today, even if they do not realize it yet. The Party of Growth, a Russian political party, started accepting Bitcoin donations earlier this week. Quite an interesting decision, as Russian government officials still want to ban Bitcoin and make using cryptocurrency punishable by law.
Political parties in Russia are always facing an uphill battle, given the political nature in the country. But when they start accepting Bitcoin donations, things get a bit hairy. Russian government officials are contemplating to ban Bitcoin in the country. Moreover, those who engage in cryptocurrency activity may face up to seven years of prison time.
Then again, the Party of Growth prides itself on being open-minded and embracing new technologies. Cryptocurrency is an innovative technology that can hold a lot of merit. Moreover, by using Bitcoin, the party of Growth can accept donations from all over the world, instead of being limited to Russia.
What makes this story rather intriguing is how the head of Party of Growth is Boris Titov. That name may ring a bell for some people; as he is an advisor to Vladimir Putin himself. Titov’s role focuses on business and entrepreneurial topics, which opens exciting opportunities for the future of Bitcoin in the country."
Read Full Article at Fintechist