{"id":2259,"date":"2017-04-11T13:05:02","date_gmt":"2017-04-11T13:05:02","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=2259"},"modified":"2017-04-11T14:55:32","modified_gmt":"2017-04-11T14:55:32","slug":"bitcoin-in-russia-regulation","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2017\/04\/bitcoin-in-russia-regulation.html","title":{"rendered":"Bitcoin in Russia: transactions will be monitored"},"content":{"rendered":"

Bitcoin in Russia<\/strong> will be officially \u201crecognized\u201d by 2018, but each transaction will be subjected to monitoring.<\/p>\n

In a recent statement by the Russian central bank, Deputy Finance Minister Alexey Moiseev<\/strong>\u00a0explains – in an interview quoted<\/a> by Bloomberg – that a legal position about Bitcoin in Russia will be taken in the next future.<\/p>\n

Recently, bitcoin and altcoins had been put aside regarding regulation, with users and companies operating in Russia threatened with takedowns and jail.<\/p>\n

In October, Russian communications watchdog Roskomnadzor<\/strong> blocked access to a peer-to-peer marketplace called LocalBitcoins<\/strong>, but developers responded by setting up a new mirror site, LocalBitcoins.net.<\/p>\n

\u201cThe state needs to know who at every moment of time stands on both sides of the financial chain. If there\u2019s a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations,”\u00a0<\/em>said Moiseev about the Russian government position.<\/p>\n

While digital currencies are still yet to receive an official status, Bloomberg reports that they will be treated as assets, cash or security by mid-2017.<\/p>\n

Back in January, Deputy Olga Skorobogatova<\/strong> (Bank of Russia)\u00a0commented<\/a> that authorities \u201cwould not like to concretely block anything\u201d instead of \u201cunderstanding how to approach cryptocurrency and from this generating a basis for regulation.\u201d<\/p>\n

Read more about Bitcoin in Russia by clicking on the blog post titles below.<\/p>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin in Russia will be officially \u201crecognized\u201d by 2018, but each transaction will be subjected to monitoring. In a recent statement by the Russian central bank, Deputy Finance Minister Alexey Moiseev\u00a0explains – in an interview quoted by Bloomberg – that a legal position about Bitcoin in Russia will be taken in the next future. Recently, […]<\/p>\n","protected":false},"author":2,"featured_media":636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76,468,542],"tags":[1218],"yoast_head":"\nBitcoin in Russia: transactions will be monitored -<\/title>\n<meta name=\"description\" content=\"Bitcoin in Russia will be officially recognized by 2018 with each transaction to be fully monitored. 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