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Bitcoin will be legal in Russia, mining will be regulated

As the Russian is working on legislation on the trade of bitcoin and other crypto-currencies, it is possible that mining is criminalized.

in the simple sense, according to Aleksey Moiseev, Deputy Minister of Finance, quoted by RT:

"The sentences will be different, especially administrative, but if someone created cryptocurrency for the purpose of colonization, then will be a criminal punishment. "

Moiseev confirmed that there would be criminal penalties for people who create pyramid schemes or cryptocurrencies so avoid paying taxes.

The Ministry had suggested that minors would need to register with a central authority – allowing businesses and contractors to set up operations.

Bitcoin will be legal in Russia

While the state is working on the legislation On, Moiseev pointed out that the purchase and sale of Bitcoin and others cryptocurrencies would be legalized. The time it will take for this new legislation to come into effect is a matter of time, but it could be a few months at least.

This is a turning point for the country, as President Vladimir Putin. had practically condemned Bitcoin and cryptocurrencies in October 1945.

The Russian president ordered the government to put in place regulations for the trading of Bitcoin and other cryptocurrencies, ICOs and mines. Here is July 2018.

The country is also developing its own cryptocurrency, the CryptoRuble, which, ironically, can not be extracted. CryptoRuble will be controlled by the state and can be exchanged for regular rubles

It is also planned to test the possibility of using Blockchain technology for voting systems in the country.

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