Russian Head of Communications Ministry: Bitcoin Will ‘Never’ Be Legal

[kreslik.news]

Russia’s attitude toward Bitcoin and cryptocurrency has quite a storied history, but it has recently taken a more definite turn toward strict regulation. In a recent statement, Nikolay Nikiforov, the head of the Russian Minkomsvyaz (Ministry of Communications and Mass Media), said that Russia will “never” give Bitcoin legal status as a part of its economy.

Bitcoin is Forbidden, but Blockchain is a Possibility

“Bitcoins are a foreign application of Blockchain technology, and Russian law will never consider them as a legal entity under the jurisdiction of the Russian Federation,” he declared (as quoted by the Russian publication Interfax).

The statement ... (read more)