• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

I am an Article about Russia’s Hypocrisy on Bitcoin

Yashu Gola by Yashu Gola
7 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

While we are not sure Bitcoin could ever be listed among the world’s greatest conspiracy theories, the Russian lawmakers still seem to be working towards enlisting it as one.

US Bitcoin Conspiracy Russia

Like if the proposed restriction was not good enough, a Russian lawmaker further classified Bitcoin as a tool of the CIA, created only for the purpose of perplexing world peace through terrorism and revolutions. The poorly-researched comments came from Andrei Svintsov, an MP from Russia’s Liberal Democratic Party, following a debate held to decide the future course of Bitcoin in the country.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“All these cryptocurrencies [were] created by US intelligence agencies just to finance terrorism and revolutions,” the politician told REGNUM, a Russian news agency.

This is indeed not the first time when a politician has exhibited an inflexible mindset towards emerging payment technologies. Earlier, and even nowadays, Bitcoin is continuously targeted by individuals for sponsoring a series of crimes related to drug trafficking and terrorism. Just a few weeks back, a Singapore-based web intelligence firm also claimed that the digital currency could be used by Islamic terror outfit ISIS for fundraising (so could USD, RUB, CHF and EUR).

The comments from Svintsov however seems like a simple excuse to provoke an already-damaged US-Russia relationship. And in pursuance of connecting distant dots, the lawmaker is simply cooking up stories regarding Bitcoin and its “harmful” impacts on Russian society, while at the same time attempting to corner the United States, a country which itself, on record, was against Bitcoin until it was educated about it. What Svintsov needed to do before passing unfair theories was to just study the whole purpose behind Bitcoin.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Why I used the word hypocrisy for Russia is due to their double standards, that how they are simply using Bitcoin for their own intellectual terrorism. They had planned to ban Bitcoin by the upcoming Spring, but later decided to revise the bill reportedly in the wake of the nation’s economic collapse. And just at the start of this year, Russia’s media watchdogs blocked access to a number of Bitcoin-based websites as well.

Even though, I believe there is a notable section in Russia that at least supports that there should be no criminal penalties for using Bitcoins. For instance, the chairman of the State Duma committee on Financial Markets has openly opposed the unnecessary restrictions on the use of digital currencies.

Every technology comes with its bane, but it doesn’t mean they are meant to be downrightly rejected. We expect Russian lawmakers to see through the lens of innovation, and create a fair and better Bitcoin law for their people.

Tags: Andrei Svintsovbitcoinbitcoin bandigital currencyisisOpinionRussia Ban BitcoinRussia Bitcoin
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Bitcoin

First In History: Bitcoin Mayer Multiple Records Lower Value Than Last Cycle’s Low

2 hours ago
crypto

Crypto Liquidations Settle As Bitcoin Recovers Above $21,000

4 hours ago
Tether USDT Crypto

Doom To Fail: Tether Shorts Pile In As Hedge Funds Seek To Profit From Crypto Winter

4 hours ago
ApeCoin

ApeCoin Climbs 22% After Snoop Dogg-Eminem Bored Ape Video Launch

11 hours ago
ViaBTC Capital | Reasons Behind Solana’s Frequent Downtime: Design Flaws in the Gas Economy

ViaBTC Capital | Reasons Behind Solana’s Frequent Downtime: Design Flaws in the Gas Economy

13 hours ago
Bit.com Plans to Double Workforce as Layoffs Mount in Crypto and Financial Markets

Bit.com Plans to Double Workforce as Layoffs Mount in Crypto and Financial Markets

13 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Have These Coins Cardano (ADA), Solana (SOL), and FIREPIN Token (FRPN) Become The Pillars Of The Crypto Space?

June 27, 2022

Torches Finance, The Top Lending Protocol has Launched on KCC, Genesis NFT Free Mint is Coming Soon

June 27, 2022

DogeSQ Token Presale Will Live on 28th June, 2022. 6:00 AM UTC

June 27, 2022

XT.com Lists Tales of Xtalnia (XTAL) With USDT Trading Pair

June 27, 2022

Find Out How Gnox (GNOX) Is Planning To Take On Fantom (FTM) And Avalanche (AVAX)

June 27, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.