By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
  • Home
    • About us
    • About Hinza Asif
  • News
    • Cryptopedia
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
    • Latest Metaverse & NFT News
      • Metaverse & NFT Games
      • Virtual Land
    • Exchanges News
    • Policy & Regulation
    • Web Stories
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Videos
  • Events
Search
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit Press Release
  • Submit NFT Project
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Bitcoin And Other Cryptocurrencies May Gain Authority In Russia, New Reports Says.
Share
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Search
  • Home
    • About us
    • About Hinza Asif
  • News
    • Cryptopedia
    • Latest Metaverse & NFT News
    • Exchanges News
    • Policy & Regulation
    • Web Stories
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Videos
  • Events
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
  • Global
  • Japan
  • South Asia
  • Partners
  • Community
HOME > News > CRYPTOPEDIA > Bitcoin And Other Cryptocurrencies May Gain Authority In Russia, New Reports Says.
CRYPTOPEDIANewsPOLICY AND REGULATION

Bitcoin And Other Cryptocurrencies May Gain Authority In Russia, New Reports Says.

news room
Posted news room February 11, 2022 591 Views 4 Min Read
Updated 2022/04/26 at 9:40 PM
Share
Bitcoin And Other Cryptocurrencies May  Gain Authority In Russia, New Reports Says.
SHARE

Bitcoin and other Cryptocurrencies may gain authority in Russia, reports Says. A new report issued by Kommersant the native Russian newspaper said. That Russian authorities are working on a new bitcoin and cryptocurrency law.

Contents
Russian Authorities Focused On New Law For Bitcoin And Other Cryptocurrencies.Russian Authorities Previous Actions Over Crypto:
Bitcoin And Other Cryptocurrencies May  Gain Authority In Russia, New Reports Says.
Bitcoin And Other Cryptocurrencies May  Gain Authority In Russia, New Reports Says.

After the explosion of digital currencies, and non-fungible tokens. Both forms of digital assets skyrocketed in the world. Whereas yet digital currencies are experiencing regulatory issues in many countries. Despite the fact that  El Salvador has accepted the legal tender for bitcoin at the end of 2021.

According to a recent report, the Russian government had applied a complete ban on crypto activities in Russia. But, this present update is standing against it. And reflecting that Bitcoin and other Cryptocurrencies will gain authority in Russia.

So What’s Cooking In Russia for Bitcoin And Other Cryptocurrencies?

According to the local Russian news updates, the Russian government, and the central bank Of Russia seems to have come to a new agreement. That focuses on the regulations for bitcoin, and other cryptocurrencies. Where bitcoin, and cryptocurrencies will gain new authority in Russia. But not what Russia considers to be digital financial assets (DFA).

Russian Authorities Focused On New Law For Bitcoin And Other Cryptocurrencies.

Currently, the Russian authorities are working on a draft law for bitcoin and other cryptocurrencies.  Which will give a new identity  to the cryptocurrencies as an “analogous of currencies.” instead of  “DFA.” As well this draft law is expected to arrive by Feb.18.

The Russian newspaper further explained. That it will be possible to utilize digital assets in the official sectors. With complete identification, via the banking systems or licensed intermediaries.

Moreover, the native Russian newspaper told. That the crypto transactions above 600,000 RUB will be considered an illegal or criminal act.

Russian Authorities Previous Actions Over Crypto:

This new update about bitcoin and other cryptocurrencies arrived. After Russian authorities completely banned cryptocurrencies, as per a report of Jan. And, debating over the speculative nature of industry stance a great danger to the public’s financial stability.

Along with it, the Central bank of Russia said that financial entities should be paused providing digital assets transactions. Additionally, if anyone accepted cryptocurrencies as means of payment will have to pay a fine.

As well, a draft document attached in the report, claims that the regulations would certify the security of citizens’ rights. Under a licensing regime, aimed at crypto suppliers. Further, the crypto providers will need to have “financial airbags.” particularly liquidity and adequate capital.

“The complete absence of regulation of this industry, as well as the establishment of a ban, will lead to an increase in the share of the shadow economy. An increase in scam cases and destabilization of the industry as a whole,”

The cryptocurrencies are on a rollercoaster in Russia. If we look at the previous and recent records of Russian authorities. We can say that Russian authorities tried but in the end, can not resist the new digital currencies. And finally, reach the decision that they could introduce a legal framework. That will benefit the economy, and prevent Russians from all the dangers, due to these digital currencies. 

Please don’t forget to leave your comments and feedback. As well, you can connect with us on our NFT based community on our social media accounts on Instagram, Facebook, and Twitter. Feel free to share your thoughts, and comments with us.

Disclaimer: We are not experts or financial advisors. Kindly, take your decisions at your own risk.

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share this Article
Facebook Twitter Whatsapp Whatsapp
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Life Cycle of Smart Contracts The Interesting Life Cycle of Smart Contracts in the Blockchain Ecosystem
Next Article  A Latinx Non-Profit Organization Took An Unbelievable Decision.  A Latinx Non-Profit Organization Took An Unbelievable Decision.
Leave a comment

Leave a Reply

You must be logged in to post a comment.

Don’t miss the NFT Drops! Sign up Now

I have read and agree to the terms & conditions

Latest News

Blue Chip Collaterals Help Stabilize NFT Lending in Paraspace
Blue Chip Collaterals Help Stabilize NFT Lending in Paraspace
LATEST NFT NEWS & METAVERSE News June 7, 2023
SWIFT and Chainlink Partner to Test Blockchain Integration for Financial Institutions
SWIFT and Chainlink Partner to Test Blockchain Integration for Financial Institutions
BLOCKCHAIN NEWS News WEB3 June 7, 2023
Warner Bros. Leaps into NFT Territory with Immersive Superman The Movie Experience
Warner Bros. Leaps into NFT Territory with Immersive ‘Superman: The Movie’ Experience
LATEST NFT NEWS & METAVERSE METAVERSE & NFT GAMES News June 6, 2023
Join us
Ad imageAd image

You Might also Like

Blue Chip Collaterals Help Stabilize NFT Lending in Paraspace
LATEST NFT NEWS & METAVERSENews

Blue Chip Collaterals Help Stabilize NFT Lending in Paraspace

June 7, 2023
SWIFT and Chainlink Partner to Test Blockchain Integration for Financial Institutions
BLOCKCHAIN NEWSNewsWEB3

SWIFT and Chainlink Partner to Test Blockchain Integration for Financial Institutions

June 7, 2023
Warner Bros. Leaps into NFT Territory with Immersive Superman The Movie Experience
LATEST NFT NEWS & METAVERSEMETAVERSE & NFT GAMESNews

Warner Bros. Leaps into NFT Territory with Immersive ‘Superman: The Movie’ Experience

June 6, 2023
GameStop NFT Shines Bright in the Spotlight Following Illuvium Partnership
METAVERSE & NFT GAMESNews

GameStop NFT Shines Bright in the Spotlight Following Illuvium Partnership

June 6, 2023
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

GET IN TOUCH

  • About us
  • Advertise with us
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance
//

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

Removed from reading list

Undo
Join us metaverse Join us metaverse
Welcome Back!

Sign in to your account

Register Lost your password?