Does Putin want more control over Bitcoin?
Russia’s finance minister shares some tidbits from his meeting with Putin last week and one piece of key information was the regulation of cryptocurrencies. The main reason behind regulating cryptocurrencies such as Bitcoin is to prevent money-laundering of any kind. By doing this, Russia wants to control the way in which Bitcoin is processed and handed out/mined.
Now before anybody has a mild heart attack, they’re not talking about banning the cryptocurrency…. Merely adding some restrictions to keep a close eye on its processes and whereabouts. This includes all purchases, sales, accounts, taxes etc. Some of these new provisions and tightening of the so-called leash will include limiting the sale of cryptocurrency purchases. The amounts and specifics of these restrictions are still in the works however, people in Russia can expect to see this change shortly.
It seems the regulation of cryptocurrencies are getting quite mainstream. Japan, China and Australia have already made regulatory changes with regards to Bitcoin and others alike. Who will follow their lead aside from Russia? Buy your Bitcoins while you can!