The Russian Central Bank could allow and regulate bitcoin operations

Next week, responsible of the Russian central bank will get together with financial market representatives to board the bitcoin circulation besides other types of crypto-currencies in Russia.

The central bank that in the beginning has been one of the incompatible opponents of the cryptocurrencies now has been easing the past months. However, the plans to liberate the bitcoin circulation may find out a strong opposition by many russian ministries.

In 2014, Finance Ministry published a law Project that prohibits the crypto-currencies circulation and insert a maximum fine of 1 million rubles (20.000$) to lawbreakers. Although there are several types of crypto-currencies, the bitcoin is the most popular and accepted by many business, online and offline. This electronic money operates with a encryption mechanism that makes almost impossible identify his users.

Also it is a decentralized system, hard to controlling by financial and monetary authorities.


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