Bitcoin Faces More Scrutiny In Russia Yet Again

Bitcoin in Russia is still facing a lot of adversity and even technology sites reporting on Bitcoin are being warned by the Russian media Watchdog.  The weird thing about this story is the fact that Zuckerberg Pozvonit, the tech site in question, published the article two years ago.  Failure to comply would lead to access to the website being blocked.

Russia Still Doesn’t Like Bitcoin All That Much

Regardless of how you want to interpret this story, Bitcoin and Russia do not mix well.  Less than a year ago, Bitcoin in Russia made the headlines when various digital currency news sites were blocked by government officials.  However, that decision was overturned by a local court a few months ago, even though not all of the websites are accessible right now.

Zuckerberg Pozvonit is the latest victim; of Russia’s Media Watchdog as the site published a Bitcoin-related article two years ago.  The article in question explains Bitcoin to its readers and talks about who could benefit from using the digital currency on a frequent basis.  It has to be said though that Zuckerberg Pozvonit usually steers away from publishing content that has a political aspect.

Russia’s Media Watchdog, also known as Roskomnadzor, is tasked with the supervision of all media outlets in Russia, both in a physical and digital form.  Any content of political nature is immediately flagged for future review and can, in some cases, lead to a warning being issued or access to certain websites being restricted.

“We haven’t discussed the issue collectively yet, but I maintain the position that we don’t have to delete anything.  Let them close the website and then let them explain to our 1.8 million readers and to the industry, what is going on.” – Zuckerberg Pozvonit publisher Vyacheslav Tsyplukhin told the media.

Even though Russia does not officially ban Bitcoin, it has been clear since day one that it will not embrace the digital currency any time soon.  In a recent tv interview, Russian President Vladimir Putin publicly commented on digital currencies, and how they could impact the country’s financial ecosystem.

During that speed, Vladimir Putin once again stresses that Russia is not rejecting this new and disruptive technology, despite the fundamental issues related to using Bitcoin on a wider scale.  Bitcoin would allow Russian citizens to bypass the country’s tight financial ecosystem, and it can be used to move funds in and out of the country more freely.  Not every country is keen on such methods, especially not in Eastern Europe.

The Future of Bitcoin in Russia Remains Uncertain

Bitcoin is becoming more and more of political “play” in various countries around the world.  Governments do not want to restore financial power and freedom to its citizens, while those citizens are getting sick and tired of the way finances are being handled right now.  Sooner or later, countries will either have to start banning Bitcoin altogether, or embrace the digital currency by enforcing a regulation.

It is no secret that most countries are keeping a “wait and see” approach to Bitcoin in terms of regulation.  Despite Bitcoin being in existence for over six years, the first regulatory steps have only just been taken, and it will take years until every country has some form of regulation in place.

Source: Global Voices

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