RUSSIA LEGALIZING CRYPTO TRADING
In a publication released by Russian Parliament on March 1st, Vladimir Putin, president of the Russian Federation, has set a deadline for cryptocurrency regulation to be adopted in the country. Two separate bills have been put forward in the report. One addresses cryptocurrency trading along with crowdfunding procedures such as Initial Coin Offerings. The other bill will establish governance rules over cryptocurrency mining.
It seems that Putin is putting emphasis on Russia's legislative body to make a decision regarding emerging cryptocurrency/blockchain markets. This precedence stems from the the economic incentives for countries to align themselves with emerging markets and industries just like we saw with the internet boom in the late 90's.
Despite all the FUD we saw during January and February in regards to the multiple nations beginning to phase in regulation, it is becoming clear now that a lot of the negative price action and drama surrounding those events were at least, in part, an overreaction.
We have now seen major countries such as the United States, South Korea, and Russia make definitive movements towards the implementation of positive regulation and general acceptance of their corresponding citizen populations.
This will put a lot of pressure on China moving forward as they are still operating under their exchange ban they implement back in late September/Early October.
It will be interesting to see how other countries around the world start to position themselves as more and more major nations around the world align themselves with cryptocurrency and blockchain alike.
