So, if and when Russia bans Bitcoin, what can the value drop be predicted to be?
I've read the news saying that Russia wants to ban Bitcoin next year. I just recently got into it and seeing the value of BTC being over $100 is really great. Will we see a value drop like we did when China banned them?
Russia bans Bitcoin - penalty 50,000 rubles (US$1,260) for individuals
Russia’s Ministry of Finance has put forward what many were expecting yet also unable to believe: a ban on the use of digital currency, and the implementation of fines as an appropriate deterrent. Local media outlet Lenta.ru reports that the regulator, which has been debating the issue of a Russian ban for some time, will officially issue legislation to be made public in due course. It is expected to include penalties for the use and creation of methods of generating cryptocurrencies, specifically 50,000 rubles (US$1,260) for individuals, 100,000 rubles (US$2,507) for officials and up to one million rubles (US$25,200) for businesses. “Similar penalties may be established for individuals and companies who deliberately spread information that allows issuing money substitutes or transactions with them,” Lenta reports. While web money services and gaming will not be affected, sources say that use of currencies “with independent emission centers” will be subject to the ban. The announcement indeed seems gloomy, but it remains to be seen how a government can successfully track use of cryptocurrency and attach a payment to its owner. The country has seen warnings on the questionable legality of Bitcoin in particular before, and the legislation is presumably intended to formalize a regulatory stance on the matter.
Russia ban bitcoin sites again, after Russian Court Discharges January Blocking
So Russian Bitcoin internet resource was blocked a few hours ago. Bitnovosti.com has fallen another victim to Roskomnadzor. According to social media posts, the resource is unavailable in Russia. When trying to access the site with a Russian IP it returns a notice as follows. source russian: http://forklog.com/v-rossii-snova-blokiruyut-sajty-pro-bitkoin/
Russian lawmakers have proposed new laws that seek to ban the use of bitcoin and other cryptocurrencies in the country, local media reported.According to draft bills submitted by a group of ... Russia's coming bitcoin and crypto trading ban was seen as all but inevitable by some cryptocurrency regulation experts. "Representatives of the Russian central bank have repeatedly voiced their ... Bitcoin skeptic Vladimir Putin plans to criminalize the use of cryptocurrencies as money substitutes in Russia. The website Russia Beyond the Headlines notes that Russia is the second country to ban Bitcoin. China recently banned the cryptocurrency as well. China recently banned the cryptocurrency as well. Putin fury: Russia cracks down on Bitcoin under strict new cryptocurrency law RUSSIA has banned the use of cryptocurrencies as a form of payment after signing a strict new bill into law over the ...
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