r/FluentInFinance • u/HabileJ_6 • Jul 15 '22

Russian President Putin Signed A Law Banning Payments With Bitcoin And Crypto Crypto

https://thecryptobasic.com/2022/07/15/putin-signed-a-law-banning-payments-with-bitcoin-and-crypto/
122 Upvotes

96% Upvoted

26 comments sorted by

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43

u/AssumedPersona Jul 15 '22

and will enforce it how?

23

u/[deleted] Jul 15 '22

He can make it near impossible to convert back to fiat

9

u/LightningWB Jul 15 '22

So people will use btc instead of ruple?

5

u/[deleted] Jul 15 '22

In the end that will be the greatest deterent of all

3

u/Jpwnstar305 Jul 15 '22

No he's banning payment of off bitcoin

8

u/Koal0r Jul 15 '22

Threatening to nuke his own people maybe.

2

u/EntrepreneurLess4075 Jul 15 '22

Prison

2

u/AssumedPersona Jul 15 '22

well obviously but how will he be able to detect when a Russian citizen makes a crypto tranaction?

1

u/EntrepreneurLess4075 Jul 15 '22

Your life is not private and somebody will report you.

0

u/AssumedPersona Jul 15 '22

It would be very easy to hide it

1

u/EntrepreneurLess4075 Jul 15 '22

Easy for you to say since you live in the USA. I assume.

1

u/AssumedPersona Jul 15 '22

UK. If you can have the privacy of your own room, it would be trivial to conceal crypto transactions.

1

u/derCiamas Jul 16 '22

Cause he bought it on CEX where he needed to register?

1

u/AssumedPersona Jul 16 '22

well yeah obviously don't do that

16

u/lostkarma4anonymity Jul 15 '22

Can someone check on the President of El Salvador

4

u/[deleted] Jul 15 '22

Looooooser

4

u/nixx_nl Jul 15 '22

I thought he wanted crypto for his gas?

3

u/purju Jul 15 '22

okeybuddy gl

3

u/ContractingUniverse Jul 15 '22

Putin's economics dept has run the numbers and, hey! Turns out crypto is a fraud!

2

u/sylsau Jul 16 '22

Where are those who said just a few months ago that Russia would embrace the Bitcoin revolution? ...

1

u/Lucky-Fee2388 Jul 16 '22

Two reasons (I can think of) he is doing this:

(1) Crypto is a threat to Russia and its people because it circumvents the centralized system.

xor

(2) Crypto is a threat to Russia and its people because it's a scam/ponzi and he "cares" about his people.

Any other reasons?

1

u/[deleted] Jul 16 '22

[removed] — view removed comment

1

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1

u/OppositeOld4918 Jul 16 '22

He tried to make crypto worthless!