Russia Remains Committed to the Future Adoption Of Cryptocurrencies

Russia Remains Committed to the Future Adoption Of Cryptocurrencies

In what should come as no surprise, recent comments made by Vladimir Putin and other ministers with respect to cryptocurrencies have been taken completely out of context and belie the reality as to Russia’s real intentions with respect to virtual currencies.

Russia’s Central Bank First Deputy Governor Sergei Shvetsov told a recent conference in Moscow that the currencies were dubious and investors needed to be protected, amid calls to block websites selling bitcoin and other currencies. Shvetsov went further by stating that Russia can’t stand apart and give direct and easy access to such dubious instruments for retail investors.

One the same day, Putin stated in Sochi that the usage of crypto-currencies carried serious risks and are issued by an unlimited number of anonymous bodies and therefore buyers of crypto-currencies could be involved in unlawful activities.

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U.S. Sanctions, The Putin Interviews and a Book on Vlad's Table by Nikolai Starikov

U.S. Sanctions, The Putin Interviews and a Book on Vlad's Table by Nikolai Starikov

When controversial Hollywood director and screenwriter Oliver Stone interviewed Russian President Vladimir Putin in his office, one of the books the former intelligence officer conspicuously placed on a reading room table for the Showtime cameras was by nationalist economist and politician Nikolai Starikov. As Showtime aired the four-part documentary series this summer, RogueMoney's Deb @BanksterSlayer Caruthers noticed the significance of Putin revealing his reading choices on political economy to Western intelligence agencies, in the form of Starikov's 2013 book Ruble Nationalization: The Way to Russia's Freedom. But how influential is this book on the thinking of Russia's paramount leader? And how does the idea of a 'nationalized' ruble relate to Putin's recent embrace of cryptocurrencies at the St. Petersburg International Economic Forum, the Russian Central Bank's hints at a national crypto-currency, and China's recently disclosed pursuit of the same?

These questions have been given a renewed urgency since the U.S Congress passed, and President Trump indicated his willingness to sign, an expanded package of sanctions that target European industry as much as the backbone of Russia's oil and gas trade with the EU.

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Ru-coin? As Moscow Moves to Regulate Crypto Transactions, Russian Central Bank Plans to Build Its Own Cryptocurrency

Ru-coin? As Moscow Moves to Regulate Crypto Transactions, Russian Central Bank Plans to Build Its Own Cryptocurrency

Numerous announcements came out of this week's St. Petersburg International Economic Forum, where ex-Fox News presenter Megyn Kelly interviewed Russian President Vladimir Putin alongside Indian Prime Minister Narendra Modi (about which the Russian Analyst will be posting soon). One of the most important state declarations: that of Deputy Russian Central Bank Governor Olga Skorobogatova. She stated that the Federation is prepared to issue its own national e-currency within the next three years. This came after Deputy Finance Minister Aleksey Moiseev's call in April for Russian legislation to regulate trading in crypto-currencies and promote transparency in crypto-transactions by 2018.

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