We'll Never Legalize Bitcoin, Says Russian Minister (siliconangle.com)

An anonymous reader shares a report: In yet another backflip worthy of the Moscow Circus, a Russian minister has said that the country will never legalize bitcoin, just seven months after another government minister said it was considering making it legal. Minister of Communications and Mass Media Nikolai Nikiforov made the statement this week, saying that "bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation." Recognizing that blockchain technology is separate to bitcoin, Nikiforov went on to say that "I think that it is quite possible to use blockchain technology and the use of various digital tokens." Those tokens may constitute a Russian-issued cryptocurrency. TASS reported that "Russia's Communication Ministry has submitted to the government the document containing technical details related to cryptocurrencies adoption."

Comments

The more you tighten your grip...

[darthsilun]

the more star systems will slip through your fingers

VPNs, encryption, Tor, the value of the Ruble. Keep trying Russia. It will be interesting to watch it play out.

Re:The more you tighten your grip...

[Anonymous Coward]

It's really descriptive of just how totalitarian the country has become that they're hard at work at out-Chinaing China itself when it comes to the control of the internet.

Important distinction: China is actually enforcing those kind of laws against its people. In Russia, on the other hand, the severity of the laws is greatly mitigated by the fact that nobody gives a shit about the laws.

Backflip?

[Anonymous Coward]

A few months ago they were considering it. After consideration they decided not to allow it. How is that a "backflip"?

That's not a Back-flip

[dwillden]

Changing the official position after several months of study is not a back flip. Seven months ago one minister says they are considering it. That means they were looking into it, not that it was absolutely going to be approved. Now after those months of study and debate they have decided that it will not be adopted.

That's called studying an issue and announcing the conclusions after the study. Not a backflip. A back flip would be minister A saying Bitcoin will be adopted, and then a short time later, Minister B saying that it would never be accepted, without giving any reason for the change in position.