Russia Softens Bitcoin Ban

Note from the CEO:  This just goes to show you, can’t keep the genie in the bottle. FintekNews reported a month or so ago that bitcoin (digital currencies) were illegal in Russia. Today? Not so much. The Russian’s have realized that trying to ban digital currencies is unlikely. Kind of like legislating against sex in college. Can’t be done. Great victory for bitcoin (and others).

“In case you need more proof that Russia is becoming a softy towards digital currency, Russian Finance Minister Alexei Moiseev himself has already acknowledged that imposing a blanket ban on cryptocurrency in the country is unlikely.

Russia admits blanket ban on digital currency ‘not worth implementing’For years, authorities in Russia—the finance ministry, in particular—have been adamantly pushing to outlaw the use and trade of bitcoin in the country. But several weeks ago, reports surfaced that Russian officials are now seeking to abandon the idea of punishing people caught involved in bitcoin operations in the country.

Then last week, Moiseev told reporters in Russia that the legislation they are working on has a high possibility of being altered.”

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