Deputy Chairman of the Duma Committee: The Russian Central Bank may legalize Bitcoin

Foreword: Bitcoin has always been in a difficult situation in Russia, especially the Russian Ministry of Finance has been firmly opposed to Bitcoin. However, a recent speech by Lugovoi, deputy chairman of the Russian State Duma Security and Anti-Corruption Committee, revealed new circumstances, suggesting that the fate of Bitcoin in Russia may be turning around.

According to Russian news agency TASS,安德烈•卢戈沃伊, deputy chairman of the Russian State Duma's Security and Anti-Corruption Committee, made remarks about digital currencies on Thursday, highlighting Russia's past tough stance on digital currencies and possible future regulation of Bitcoin.

Citing expert estimates, Andrei Lugovoi said Russia ranks fifth in the world in terms of the number of people using and trading digital currencies. Russia has about 200,000 users of Bitcoin and other digital currencies. The United States ranks first with about 1.2 million users, followed by China with about 355,000 users. Germany ranks fourth with about 250,000 users.

Despite so many users, Bitcoin has always had a difficult time in Russia, especially with the Russian Ministry of Finance firmly opposed to Bitcoin. However, Lugovoi's speech revealed new circumstances, suggesting that Bitcoin's fortunes in Russia may be turning around.

Lugovoi said:

In early 2014, the central bank expressed its first stance on digital currencies, saying it did not support them… In the summer of the same year, the central bank announced that it supported the "cautious use" of Bitcoin and saw the economic potential it brought… In early 2016, a series of meetings were held with the Ministry of Finance and related companies. The central bank may begin to legalize Bitcoin and regulate certain Bitcoin transactions, especially peer-to-peer network transactions and personal settlements.

Lugovoi's speech is of great significance to Bitcoin users and related businesses in Russia, because at the end of October last year, Russian Deputy Finance Minister Alexey Moiseev said that relevant laws were under discussion, and if passed, those who conduct digital currency exchange for legal currency will face 4 years in prison.

Original article: https://www.cryptocoinsnews.com/is-2016-the-year-russia-legalizes-bitcoin/
Author: Samburaj Das
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information (http://www.8btc.com/russia-legalize-bitcoin)