Bear in Blockchain: Russia’s Frosty Attitudes to Cryptocurrency Thawing
The Blockchain technology is attracting an increased interest from the Russian financial institutions and IT companies and may be poised to overcome skepticism from Russian regulators.
This is perhaps not surprising, given Russia’s prominence in the technology sector with over 120,000 local programmers and continuing growth in e-commerce and online activities.
However, certain legal obstacles may still pose challenges for promoters and developers of cryptocurrencies and other Blockchain applications.
Current Resistance to Bitcoin The Russian authorities have given attention to potential uses of cryptocurrencies for several years, but until recently the focus was on anti-corruption and anti-money laundering measures, legal compliance and risk management.
This post was published at Coin Telegraph on 2016-11-17.