Russian Political Party Moves to Accept BTC Donations

Reports have surfaced telling us that in spite of Russia’s talk of banning Bitcoin altogether, a minor political party is trying to accept Bitcoin donations.

They call themselves The Party of Growth. The party was formed in 2009 under a different name, Just Cause. The Party of Growth is now setting its sights on being able to receive Bitcoin in donations. It’s a very noteworthy move, considering Russian Government all but hates the digital currency.

Reports surfaced after reports from TASS that covered remarks made by Boris Titov, who is the head of the party, and just so happens to be an advisor to Vladimir Putin in regards to business and entrepreneurial issues. Titov was cited as saying that there is a need to source funding for the party from new directions, one of said is crowdfunding. He also said that the party would only accept bitcoin donations from users with verified identities.

“Russia can take advantage of the difficult economic situation that has developed today for us to become a very profitable country open to block-chain,” Titov said.

Reports also said that the party was looking at the donation effort as a way to facilitate the acceptance of digital currency within Russian borders. Russian news services noted that the party has promised legislation that would help pave the way for future acceptance of development in the country.

Whether or not any of the party’s dreams come to fruition will be seen at the polls later this year. Russia’s feelings towards Bitcoin has been documented as a rocky one as it has put considerable energy into the outlaw of production and use of what was referred to as “money surrogates. Despite these feelings, numerous financial institutions, including Russia’s Central Bank, has expressed interest in exploring the application of Bitcoin’s Blockchain within its own realm.

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