Cryptocurrencies in Russia is there a future?
Year 2018 comes to an end, and it makes sense to sum it up and generate forecasts for the following year. For the discussion of the asset 2017, cryptocurrency, this year was unsuccessful – the fall of Bitcoin’s rate is 80%, lowering market capitalization from 610 to 122 billion dollars – here are some facts in favor of that too overheated assets eventually “shrink”, and the idea to enter the market in a period of protracted growth – a thankless task.
The popularity of queries on Bitcoin, according to Google, fell five times, reflecting the full decline in interest in this industry. However, in the first half of 2019 may appear necessary tools for the operation of institutional investors through which the market can (while theoretically) come institutionally, and asset prices will rise.
This is the only option positive scenario, but its implementation requires the consent of the SEC in the US to approve the exchange’s Bitcoin ETF funds, and given the size of the market, which is now (what’s left of it), it is unlikely that permission will be obtained.
Last year can safely be called the year of the regulation, since it is the position of the regulators was critical for market movements. In January there were rumors about a ban of trade cryptocurrency in South Korea (later proved fake) and the closing of platforms to trade in China. In February toughened its attitude towards cryptocurrencies India, and banned their advertising company is Facebook. Later in March it became known that Google since the summer ban is a cryptocurrency, ICO, and also stock exchanges, wallets, and shopping recommendations on trade.
After the ban of advertising of the market movement was sideways movement, volumes increasingly reduced, the reasons for the rise was not found, but the SEC’s inaction has forced investors to seek alternative tools.
With regards to the position of the domestic regulator of the Russian Federation cryptocurrency does not officially exist, and the draft law “On digital of financial assets” (which is not a word about bitcoin) transferred for consideration for spring 2019. Apparently, the attitude of Russian officials can be called as expectantly-indifferent, saying, “what if self-will”?
But given that in the planning bill not only has significant gaps, and outright restrictions on rights and freedoms for captainvalor in Russia, and after the bill situation and the brain drain of funds abroad does not stop, then to summarize the situation: better to have no law than to accept one that is offered now.
Definitely please its adoption lawyers, who clearly have more work in the resolution of disputes. However, it is the prospect of spring next year, and during that time probably all about to change for the better, then next year this, and other, industries and wish.
“International financial center”