The Russian government is apparently moving towards the regulation of cryptocurrency, according to RT. The Russian Finance Minister assured citizens the country had no plan to permanently bar cryptocurrencies. Laws are being drafted to regulate them, which should be complete by the end of this year.
This is a major move, as Russia is the most prominent country nationwide that has made holding cryptocurrencies illegal. Other countries include Bolivia, Ecuador, Kyrgyzstan, and Bangladesh. However, Russia plans to leave this group soon.
China recently banned ICO's (Initial Coin Offerings), but Chinese government officials have indicated that this is only temporary; appropriate regulation will soon be in place and ICO's will be allowed once again. Bitcoin (among other cryptos) tumbled this week after the Chinese ban, so this could mean a big uptick in the price.
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