Startups Speak Out on Russia’s Looming Bitcoin Ban

justice, russia

“We don’t plan to close.”

Such is the resolve of BTC-e, the largest exchange for the Russian ruble, heading into spring 2015. The informal date has been on the minds of many in the bitcoin community since it was first billed as when Russia would ban bitcoin in August of last year.

The most recent comments suggesting this probable future were issued by deputy finance minister Alexei Moiseev on 20th March. In new statements, the official in charge of coordinating Russia’s financial policy and planning doubled down on his past terse dialogue toward cryptocurrencies, stating that the action will take place as previously announced.

While the rhetoric may suggest a battle between two staunchly opposed sides, interviews with domestic entrepreneurs indicate that Russia’s apparent anti-bitcoin stance has already done much to drive away any interest in the market.

Interviews with native or expatriate entrepreneurs suggest the evolution of Russia’s bitcoin market continues to attract more attention from media abroad than from those who would be positioned to serve its consumers.

The story of ALFAcoins CEO Vladimir Chelpanov, is indicative of the general narrative – the startup, which at

Read more ... source: CoinDesk