Russia’s cryptocurrency legislation to resemble that of Japan, US
Russian legislators are trying to use elements of the New York licensing system and Japanese laws to shape Russia’s cryptocurrency legislation.
https://financefeeds.com/russias-cryptocurrency-legislation-resemble-japan-us/
Russia’s Internet ombudsman Dmitry Marinichev. (thats some kind of title) "In an interview for the “Russia 24” TV channel on Wednesday, said that the Russia’s cryptocurrency legislation will be similar to that of Japan, and to that of New York (the New York DFS licensing system)."
He went on to say "Concerning the current popularity of Bitcoin trading, he said he would not recommend Russians to participate in Bitcoin trading in the near future, as the risk of loss is too high. One of the factors for that is the pending system upgrade." Looks like they have done a little research on the topic.
The takeaway?:
"Mr.Marinichev stressed the increased understanding of Russian authorities of blockchain and Bitcoin. Indeed, even the Central Bank of Russia has this year become way more welcoming towards blockchain technologies and cryptocurrencies. This stance has marked a stark contrast to the bank’s initial position that treated Bitcoin and its likes as money surrogates and warned that any activities associated with them may be treated as violations of AML laws."(anti money laundering)
"Russian businesses have been increasingly adopting blockchain-based solutions and have been examining the use of cryptocurrencies in their operations. The latest news in this respect come from airlines. Earlier in July, Russia’s main airline – Aeroflot-Rossiyskiye Avialinii , published proposals for the implementation of crypto-currencies and related technologies in its operations. Another push in this direction has been made by Alfa-Bank and S7 airline that have partnered on a project that will allow selling of flight tickets based on the Ethereum blockchain."
It looks as though there has been quite the reversal in the Russian attitude towards crypto and blockchain. Its like the classic example of fearing the unknown, once you learn about whats causing the fear it doesn't scare you so badly anymore. Any acceptance news is good news in my book!
