Every user of the Bitcoin system sooner or later begins to worry about the legality of these virtual coins. He asks the question: "Has the government already banned Bitcoin, and if so, why?" To understand the essence of the relationship between the state and alternative currencies, first consider the nature of the latter.

 

Popularity is a burden

Why are bitcoins the worlds most popular virtual currency? Users are attracted by its convertibility (the ability to easily exchange for other means of payment), privacy during transactions and a wide range of uses. These invisible coins are used to buy real goods and services, they can be placed in virtual casinos (from where, in case of luck, money is easily withdrawn), etc. Great tool for online payments.

Why did Bitcoin get into the focus of special attention of various states? Here, the popularity and privacy of digital cash served as a bad service. In all operations with it, only two parties are involved. And no intermediary is needed. For the participants in the transactions, this means only benefit: the transfer is made quickly and cheaply. The commission is either not charged at all, or completely insignificant.

But, any state that issues its own currency, of course, is not happy with the appearance of such a competitor in this area. And Russia is no exception here: thats why questions began to arise as to why Bitcoin is banned in the country. In general, it is useful for users of digital cash to know that the phenomenon cannot be prohibited. True, it can be legally limited. What follows from this?

 

"State concern"

Strictly speaking, it is not Bitcoin that is banned in Russia, but the so-called monetary surrogates, but why? The answer is obvious - each state is responsible to its citizens in all spheres, including financial. Russia has a ruble, for which the powers that be are responsible - to the best of their ability, of course. When trouble happens to a citizen of the country, as a result of which the victim is deprived of funds, measures are taken.

But, it is one thing when it comes to fiduciary (guaranteed, provided by the state) money. And it is completely different if some kind of virtual currency appears in the case, the passage of which is unrealistic to trace. It is not surprising why they tried to ban Bitcoin at the legislative level. Such a victim will come to the police with a complaint about the alleged fraud in relation to him. What should law enforcement agencies do?

If the transaction was completed, it can at least be tracked by logs. But in the case of cryptocurrency, all transactions are confidential - both parties may not voice their real data. Consequently, they are not tracked by banks or more or less official payment systems. That is why Bitcoin, as the most popular, advanced and demanded representative of virtual money, is not in honor of any state.

 

Give up the amenities?

Why Bitcoin ended up on the list of financial instruments that are prohibited in Russia can be understood from the statements of officials. Thus, the head of the Federal Drug Control Service of the Russian Federation, Viktor Ivanov, said in an interview: "The Russian drug mafia is actively using virtual currency." There are other, no less official statements of no less official and no less respected persons.

What should ordinary digital cash holders do in this situation? Those who have already felt all the advantages of using it. Why should they abandon Bitcoin, which in the Russian Federation has not even been completely banned by law? On the contrary, there are completely different opinions in the Government regarding the turnover of cryptocurrencies. First, it is worth knowing that by buying / selling Bitcoins, you are not committing a crime. Secondly, if these coins are recognized in Russia, their rate will definitely rise.