Russia Expected to Legalize Bitcoin P2P Transactions

Russia’s Central Bank may soon allow and regulate transactions in Bitcoin, according to a leading Moscow newspaper.

Change in Attitude

In a possibly dramatic change of attitude towards cryptocurrency, the Russian Central Bank may soon allow P2P transactions in Bitcoin, as well as other operations with cryptocurrencies, according to Izvestia, Russia’s leading news publication.

The Central Bank has historically been more open to Bitcoin than Russia’s Ministry of Finance. Next week, they will meet with financial market representatives to discuss how to approach cryptocurrency as a whole in Russia.

According to a source close to the Central Bank, it is “very likely” that the regulator may in fact be a proponent of cryptocurrency as “the attitude of the Central Bank towards Bitcoin has shifted in the past year.”

The insider also believes that the Central Bank could legalize and regulate some operations involving Bitcoin, particularly peer-to-peer transactions and settlement payments between individuals. 

Central Bank of Russia

Overcoming Obstacles

In January, the Federal Supervision Agency for Information Technologies and Communications (“Roskomnadzor” in Russian) blocked access to at least five Bitcoin-related websites, in accordance with the ruling of the Neviyansky Municipal Court.

Meanwhile, the affected websites, such as

Read more ... source: Cointelegraph