Russian ministry says quasi-money ban may endanger banks, retailers

Since MaidSafe would obviously be affected by this bill as well, this is good news. Hopefully the Russian government and/or the Ministry of Finance will take the Ministry of Economic Development’s warning seriously. Russia is in a tight spot right now, I think it could do the country a lot of good if they don’t ban innovations like crypto-currencies.

yes it would be nice. I’ve got a feeling that the issue is mainly around store gift cards/vouchers/points etc falling under the legislation - which would mainly cause the negative economic impact. I think the likelihood is that they will just re-define “Quasi-currencies” more precisely and re-work the bill…unfortunately…

Quasi-money? They must have meant the US dollar, not cryptocurrencies.


I suspect they fear hyperinflation through people abandoning the ruble. Bitcoin could make this a bit too easy for the state to endure.

State currencies will die soon enough, mind. It is just a matter of time.

Edit: ofc, Bitcoin has been losing value too, so it may not have been such a great alternative recently.