Blockchain Revolution Series: Ernst & Young Features In Top-3 Enterprises Blockchain Solution Provider
Digital Currency Revolution Series: Bitcoin Reclaims $10k Mark, FxWirePro’s Long Hedges On Its Functionality
Digital Currency Revolution Series: Spotlight On FxWirePro’s BTC Long Hedges As Bitcoin Explodes With Fresh 1-Year Highs
Cryptocurrency Derivatives Series: Bitcoin Flirts With Technical Supports & Drifts In Sideways, Uphold Long Hedges
Digital Currency Revolution Series: ETH/USD Bulls Uproar Ahead Of Ethereum 2.0 Testnet, Uphold Long Hedges
Blockchain Revolution Series: India’s Leading IT Giant TCS Launches Quartz Smart Solution For Cryptocurrency Trading
Regulatory Series on Series: US Senate Foresees Budding Technology & Digital Dollar To Play Crucial Role In Economic Competition
Russian Presidential Advisor: Accepting Bitcoin Is A Crime; Blockchain Technology Is Amazingly Interesting
Russia lawmakers have been pushing to ban digital currency such as bitcoin in the country and have submitted a new draft bill to the country’s legislative assembly Duma in December. In addition, a recent report from the Rossiiskaya Gazeta stated that the Russian Finance Ministry has proposed amendments to the Criminal Code. Under the new amendment, those who are guilty of issuing cryptocurrency would be “fined in the amount of half a million rubles, or sent to correctional work for up to two years”.
Now according to a new report, recently appointed Internet advisor to Russian president Vladimir Putin German Klimenko told Lenta.ru, a Russian news service, that accepting bitcoin is a crime, as translated by Forklog.
Klimenko told Lenta.ru, “Accepting bitcoin as a payment for anything is unacceptable because it is a crime…Any introduction of an outside currency into the balance is always an independence on whether it’s counterfeit or not, it’s always a blow on economy”.
He further said that when the use of digital currencies becomes critical, everyone will “certainly” ban it. However, Klimenko was quite positive about the blockchain technology that underpins bitcoin.
He said that the technology is “amazingly interesting”. He explained that while one cannot trace the way a 5,000 rubles bank note has made, blockchain technology enables to trace every note and every ruble as they will have a marking, and a person will be able to look up the history and find out what came whence.
“I expect lots of experiments with the blockchain technology. They’ll attempt various issuances and novelties at different exchange. They’ll be watching, as replacing software right away is shifting to a completely different reality. We cannot even imagine how different it will be. When every ruble has a recorded owner, it will become a truly different world,” he added.