Russia has never been very fond of cryptocurrencies, as they have already expressed their feelings towards the Bitcoin and now they have expressed it against all cryptocurrencies in general. While they do not mind cryptocurrencies per se, they don't want people to be able to exchange them to fiat money through exchanges within the country.
“People can play with their chips, and they can call them money, but they can’t use these surrogate currencies as tender. We will discuss this law in the current session of parliament, and possibly even pass it then, or at the very latest by spring next year.” Aleksey Moiseev, Deputy Finance Minister of Russia said.
"We are currently dealing with comments from the law enforcement agencies, about the specifics of legal measures, and we will take their remarks into account. But the overall concept of the law is set in stone.” He added.
Russia is one of the biggest cryptocurrency countries in the world, with tons of miners and cryptocurrency traders based within the borders. They use the virtual currencies to purchase services and goods, as well as to gamble without the control of the Russian government.
Daniel Allermand - Igaming.org Reporter
Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.