After a long struggle and argument, the decision is made and final. Bitcoin is now legal in Russia. Congratulations, we are proud of the choice you have made Russians!
Now the investors in Russia are going to have the time of their lives and if you aren’t one of them. Are you sure you want to be left behind?
Celebration or No?
C’mon! Let’s celebrate this massive and remarkable moment in the history of Bitcoin. We told you, Bitcoin is going places. It has made the Bitcoin investors extremely happy and the government has recognized the great future Bitcoin holds for them. But, with all this comes great speculation! Will the Russian government set their foot in the crypto-world? They better not!
How Did It All Happen?
Here’s how all of this happened. A couple of weeks ago, Russian authorities announced that the bitcoin use was legitimate. Russia has a population of 146 million people and it has become an important market for Bitcoin in the last few years. Not only bitcoin is used, many other cryptocurrencies are also being used rapidly.
Bitcoin, A Green Or A Red Light?
Cointeleraph spoke to Jake Smith of bitcoin.com and surprisingly he had a lot to say about this new development or if its a call out for a celebration. He was asked for his reaction when he got to know Russia has legalized Bitcoin. He frankly said that
It’s hard to believe whenever a country legalizes Bitcoin or bans it as there are countless rumors going around all the time. It’s one rumor after another so its hard to be excited or worried about this, as I have no idea which is true and what is not. But if Russia has finally given bitcoin the green light, I think that this is a fantastic news for everyone!
Terrorism Financing Or Money Laundering?
The authorities have been going after Bitcoin for various reasons. They say Bitcoin has become the hub for terrorism financing and money laundering. Hence, the acceptance of crypto has slowed down and many people don’t want to be associated with anything where illegal activities are taking place. That’s one of the reasons the mass adoption of crypto is at halt.
But,there is more to Bitcoin and the authorities do not understand it or they have an underlying agenda. If they are implying that Bitcoin is calling terrorism financing and money laundering. In reality, it’s their own currency which is involved in the black market, terrorism financing and money laundering.
If the authorities are worked up about Bitcoin for their own hidden agenda. It means only one thing! Bitcoin is a good form of money that can be used for such purposes. However, it is not a form of money they can manipulate and control which is why they impose these concerns. They definitely do not want the citizens to be using a form of money that they cannot control as it will harm the power in their hands.
But, the Russians have seen through all that and have given the green light to Bitcoin for the greater good!