Russia Proposed to Outlaw Cryptocurrencies as Early as 2015

Russia, a significant player in the global cryptocurrency market, is taking active steps to restrict the use of digital currencies within its borders. The Russian government has expressed its opposition to cryptocurrencies, viewing them as "surrogate currencies" rather than real money.

Aleksey Moiseev, Deputy Finance Minister of Russia, has stated unequivocally that cryptocurrencies cannot be used as tender in the country. This stance is in line with the Russian government's view that digital currencies should not be used to exchange for fiat money within the country.

The Russian government's stance against cryptocurrencies is not limited to Bitcoin. In fact, Russia has expressed opposition to all digital currencies. This opposition is evident in the current discussions in the Russian parliament regarding a law that would ban the use of cryptocurrencies as tender.

The law, which is currently being debated, would prohibit the use of cryptocurrencies to purchase services, goods, and even for gambling, outside the control of the Russian government. If passed, this law would mark a significant shift in Russia's approach to cryptocurrencies.

The overall concept of the law banning the use of cryptocurrencies as tender in Russia is set. According to reports, the law may be passed during the current session of the Russian parliament. If not, it is expected to be passed as early as this year or at the latest by spring next year.

The Russian government is considering comments from law enforcement agencies regarding the specifics of legal measures concerning cryptocurrencies. This suggests that the government is taking a comprehensive approach to regulating digital currencies, ensuring that any measures taken are effective and enforceable.

Despite being a significant country for cryptocurrency mining and trading, with many miners and traders based within its borders, Russia does not want its citizens to be able to exchange cryptocurrencies to fiat money through exchanges within the country. This move is part of the Russian government's broader strategy to maintain control over its financial system and curb illegal activities associated with cryptocurrencies.

In conclusion, the Russian government's stance on cryptocurrencies is clear: they should not be used as a means of exchange. As the discussions in the Russian parliament continue, it remains to be seen how this stance will be enforced and what impact it will have on the country's cryptocurrency market.