Russia’s Finance Minister announced the government’s goal of legalizing and regulating the circulation of cryptocurrencies. Unlike China, Russia will not outright ban ICOs as it plans to take full advantage of this new financial technology. Although a segment within the Russian administration has not given its backing to cryptocurrencies, most of the evidence and recent developments in the country point towards a push from Kremlin to become the world’s most powerful country on the back of its early adoption of artificial intelligence.
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Russia blocks one of the largest running cryptocurrency exchanges, BTCe, following BitStamp’s voluntary IP block of its Russian users. These developments are likely a preview of what is to come from enforcement of recent laws criminalizing blockchain technologies and ‘money substitutes’ in the Russian market. Also Read: The Netherlands Wants Clear Regulatory Guidelines For FinTech and Bitcoin Startups Russia Can’t Make Up its Mind on the Blockchain More baffling still is the fact these moves