Russia Embraces Bitcoin – No Plans to Ban Cryptocurrencies

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The Bank of Russia is not going to take measures to prohibit the use of Bitcoins, recently said deputy chairman Olga Skorobogatov at the Gaidar Forum, a unique intellectual platform and a meeting point for theorists and practitioners, the world leading scientists and politicians and influential representatives of global financial and business elites.

According to the Russian media Skorobogatov said that because Bitcoin is a private currency, it has become clear that the topic is not as simple as it comes across in many media. There are no plans to ban bitcoin any longer but rather try to legislate it more effectively. 

“Instead, we want to gain a better understanding of Bitcoin, and build a regulatory framework we have gathered the necessary knowledge,” he added.

“Prohibiting the use of bitcoins and other private currency is completely useless,” said a member of Alfa Bank,  Petr Aven, who sits on  the board of directors. Private currency does not stop, their use does not stop. How to make sure that they do not weaken the ruble, it is an entirely separate issue. But the ban – it is totally useless history ,” he added.” 

 

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ citiies. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe.  In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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