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[NoLimits15]

Paxful crypto exchange has reported that bitcoin trading in Russia has rapidly increased in 2020, despite the country's strict policies against bitcoin. The exchange reported a 350% increase in bitcoin trading and this rise is mainly due to the coronavirus pandemic raising people's interest in bitcoin. On July 24, the Russian government passed a law that allows the use of bitcoin, but again if anyone uses it commit crimes or fraud, they will have to face serious consequences.

 

[Ewogboka]

Paxful crypto exchange has reported that bitcoin trading in Russia has rapidly increased in 2020, despite the country's strict policies against bitcoin. The exchange reported a 350% increase in bitcoin trading and this rise is mainly due to the coronavirus pandemic raising people's interest in bitcoin. On July 24, the Russian government passed a law that allows the use of bitcoin, but again if anyone uses it commit crimes or fraud, they will have to face serious consequences.

I guess the pandemic that increase the activities of people in Crypto currency pushed the government of Russia to pass law to legalised it. Criminal prosecution is highly necessary.

 

[Josemendez]

There has been popular trending news with respect to the rise in bitcoin price . this is part of the reason why people are rushing I to the bitcoin business.

 

[Josemendez]

Am happy for this development in Russia . it means that cryptocurrency has now be legalised in Russia.
I just hope that the newbies will be careful to avoid being scammed

Yea . however being scammed or not does not necessary have much to do with newbies . some old users are scammed because of greed .

 

[Ewogboka]

Scam actually doesn't mean if one is a newbie or old user though people who are old in the system are not easy to fall for some cheap scam activities unlike the newbie.

 

[SCAMEXPOSER]

That is a good sign for the new prime minister of Russia Mikhail mishustin because he is planning to turn the country into digital platform and also help the bitcoin community to grow

I know Russian economy is advanced and the step taken is nice one, very likely they will also launch their own digital coins to enable them key into Crypto currencies effectively.

 

[Josemendez]

I know Russian economy is advanced and the step taken is nice one, very likely they will also launch their own digital coins to enable them key into Crypto currencies effectively.

I think it is note preferable for countries to key into fiat digital currency . at least they won't feel the effect of the fluctuations with the cryptocurrency

 

[Tragic]

Everything is correct. Our national currency is worse than bitcoin!))) Officials are so stupid that they can only prohibit. But they don't control anything. They only create an illusion.

 

[Josemendez]

Everything is correct. Our national currency is worse than bitcoin!))) Officials are so stupid that they can only prohibit. But they don't control anything. They only create an illusion.

I think they need to do something about it , before it crumbles the economy .
A country with problem in national currency will experience more problem when cryptocurrency comes in .

 

[Ewogboka]

Everything is correct. Our national currency is worse than bitcoin!))) Officials are so stupid that they can only prohibit. But they don't control anything. They only create an illusion.

This is sad. How worse is national currency, is the values decreasing on daily basis, what is responsible for that?. Are you from Venezuela?

 

[Josemendez]

Yeah. The pandemic really caused an increase in the use of cryptocurrenies and virtual currencies since most people focused on different online activities in a bid to earn, for payment or exchange.

Most people are even scared to use fiat currency , as they are afraid that the currency may be a medium for transmitting the deadly virus .
Shops are now making use of credit cards

 

[Josemendez]

Yeah. Some countries are planning on whether to build a digital form of the fiat currency or to give room for the cryptocurrency usage . This is to enable curtail the spread of the virus

 

[SCAMEXPOSER]

Countries will have to build their digital stable coins to enable them key into Crypto currencies fully for effective conversion and transactions with Crypto currency.

 

[Reznov]

those are good and bad news, i hope that trading isn't a challenging thing for them anymore, once it's regulated, everyone will be using it freely without any complicated processes

 

[Ewogboka]

Regulating Crypto currency is not a thing I see that is achievable except tracking of criminal activities by individual countries that legalized it.

 

[SCAMEXPOSER]

The laws that was signed into law by Russian government was a serious booster that ordinarily made the spike in trading volume of Crypto currencies in Russia.

 

[Wisdom01]

I think its not the government fault to enable strict policies its just to reduce fraud ,The Russia government are trying while some government isn't even concerned about bitcoin

 

[Ewogboka]

Countries that has foresight can't ignore and bitcoin and other Crypto currency activities because there is money it and their services is adding value to their economy.

 

[Ewogboka]

This pandemic has made it more popular and realistic because people who had alternatives and never believe it were forced to look into possibility of online trading and investment.

 

[Reznov]

Countries that has foresight can't ignore and bitcoin and other Crypto currency activities because there is money it and their services is adding value to their economy.

obviously, because it contributes in the economy if it's well controlled, people will pay taxes when trading and mining, it will be a legal action to perform