31 Oct '17, 4pm

Inside Russia's love-hate relationship with Bitcoin - The Verge

After years of ambiguous signals, Russian president Vladimir Putin finally clarified Russia’s stance on cryptocurrencies last week with five presidential orders demanding officials set up a legal framework to handle digital currencies. The orders include plans to tax crypto miners, regulate ICOs, sandbox legislation for newly developed blockchain technologies, and an order that outlines the “formation of a single payment space,” likely part of the digital ruble initiative that the Russian Central Bank has been pursuing. It’s a surprising development that could solidify cryptocurrency acceptance within the Russian Federation. It’s been a big year for cryptocurrencies: Bitcoin and Ethereum have seen exponential growth in value, and ICOs around the world have generated $2.6 billion in investment. It’s also been a year of regulatory scrutiny: governments in China, South Korea,...

Full article: https://www.theverge.com/2017/10/31/16387042/russia-putin...

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