Putin Signs Ban on Crypto Payments in Russia

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the real question will be what is their actual enforcement gonna look like. The reality‌ with all things is the law means nothing unless it's actually gonna be enforced. I'd‍ imagine this is them trying to stop all capital flight from Russia.
 
Yep. Even gold from Russia will soon be banned. Have the West‍ and the East colluded?
 
Bitcoin has been the primary traded assets wherever it's banned, free market and underground markets sprout like mushrooms whenever financial restrictions are imposed.

There will be premium on the price of BTC to quantify the risk of offering bitcoin trading, but you can't stop it.
 
Bitcoin has been the primary traded assets wherever it’s banned, free market and underground markets‌ sprout like mushrooms whenever financial restrictions are imposed.

There will be premium on the price‍ of BTC to quantify the risk of offering bitcoin trading, but you can’t stop it.⁠
 
Same in all emerging markets ”” they can't regulate, ban, monitor or tam a free market, it's not new to Bitcoin, it was like that for USD since years.
 
Same in all emerging markets , they can’t regulate, ban, monitor or tam a free‌ market, it’s not new to Bitcoin, it was like that for USD since years.
 
This is the beauty to me of emerging market countries is⁠ that they are la la land when it comes to actually enforcing regulations and taxes...⁤ compared to say the EU where their is rules for everything and fairly serious tax⁣ enforcement. To me the best way to be is a business that sells to the⁢ first world developed markets where you can make serious money but live in the developing︀ world where you have much less paperwork and bs.
 
I am afraid that you are remarkably underestimating the Russian⁤ government oppressive power (or you are lacking the information about).
To avoid misunderstanding: I cannot⁣ judge whether the ban will be really enforced. I only want to say – if⁢ the Russian government (i.e. Putin and his fellows) decides to enforce it, it will be︀ enforced effectively (and brutally).
 
Forester said:
I am afraid that you are remarkably underestimating the Russian government oppressive power (or you are lacking the information about).
To avoid misunderstanding: I cannot judge whether the ban will be really enforced. I only want to say ”“ if the Russian government (i.e. Putin and his fellows) decides to enforce it, it will be enforced effectively (and brutally).
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I will quote myself : "There will be premium on the price of BTC to quantify the risk of offering bitcoin trading".

I didn't say everyone will easily buy Bitcoin, I didn't say everyone will be selling crypto, but russians who live abroad and have access to bitcoin markets and need Rub for business deals in Russia will leverage bitcoin, sell it at premium.

Actually, if you have your parents in Russia and want to send them money, your only option is probably bitcoin, you will go through a P2P trader will a good reputation and he will fund their local bank account.
 
I will quote myself : "There will be premium on⁣ the price of BTC to quantify the risk of offering bitcoin trading".

I didn't⁢ say everyone will easily buy Bitcoin, I didn't say everyone will be selling crypto, but︀ russians who live abroad and have access to bitcoin markets and need Rub for business︁ deals in Russia will leverage bitcoin, sell it at premium.

Actually, if you have your︂ parents in Russia and want to send them money, your only option is probably bitcoin,︃ you will go through a P2P trader will a good reputation and he will fund︄ their local bank account.
 
This is not correct. It‍ heavily depends on where you live. Do not forget that only ~40 (IIRC) countries introduced⁠ some sanctions against Russia. In the rest of the world, business with Russia is running.⁤ The disconnection of majority of Russian banks from SWIFT is a problem; but solvable. (Do⁣ not forget that an international trade is much, much older than SWIFT.)
What P2P trader? Russian? Yes, now it is probably︀ possible. And probably even after the abovementioned ban, as the ban targets only using crypto︁ for payments, investing in crypto is still allowed – if I read correctly.
But I︂ really do not think the idea that a free market and underground markets can sprout︃ like mushrooms is now generally valid for Russia.

Bottom line: May I ask you one︄ short question? Do you have a personal experience, direct or indirect (i.e. from your close︅ friend or business partner) with living and/or running business in Russia for a sufficiently long︆ time? (And take into account that Russia is not only Moscow and St.Petersburg, the majority︇ of Russian population lives at province.)
If yes, then – we simply have different opinions.︈ It can happen.
If no – sorry, but in such a case you do not︉ know what you are talking about. Russia is not the US, not Europe, not Japan,︊ not Africa. It is a different environment. I do not want to say that it︋ is horrible or excellent; just different.
 
It's funny to read people's thoughts about Russia.︊ It's simpler than you think. In Russia, it only takes an hour to exchange btc︋ for cash. We have a lot of people doing the exchanging.
Putin has banned buying︌ and selling. In Russia you can't buy anything in a shop with cryptocurrency. But everyone︍ knows how and where to buy it. So many companies have switched to cryptocurrency after︎ the shutdown of swift
 
Well, my‌ thoughts are based on some experience 🙂
We are not in contradiction. Investing⁣ to crypto and converting it to fiat is not banned even now – and it⁢ goes well.
🙂 Well, I do not think that any inhabitant of a Russian village knows it;︁ but I (hopefully) understand what you mean 🙂
Probably yes – but I do︃ not believe that they will use crypto for the regular payments processing, if the ban︄ is enforced.
 
True. the developing world offers⁢ a very broad choice of taste from Asian, Latin and African and even Eastern European︀ flavors.
 
🙂 I definitely do not‌ know everything. Just the opposite. The more I learn, the more I found being lacking‍ 😉
Honestly, not for a sufficiently⁠ long time, I think. But people close to me lived there for years.
🙂 False judgement. Not at all...⁣
 
The problem you have when⁢ you sell to the first developed country is that their currencies are very weak, so︀ you really have to sell a lot to make good money. I prefer to sell︁ on the dollarized market. If you have some advices on how to fight the problem︂ that I said I am curious about it?
 
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