It’s been just revealed that the Russian government decided to legalize owning, buying, and selling Bitcoin. Check out the latest reports below.
While some people hopped in the comments to celebrate, others are saying that this is not good for Bitcoin.
Check out what someone posted in the comments on Twitter.
Russia legalized #Bitcoin as a currency faster than the U.S. Game on!
— El Sultán ₿itcoin ⚡️🛰 🇸🇻 🇻🇪 (@elsultanbitcoin) February 9, 2022
Exactly. If people actually read the article they’d see this isn’t bullish for Bitcoin at all. Russia is actively trying to stamp out Bitcoin by doing this. More countries will do this to prevent the “crowd funding” of “dissidents” against the ruling class. #bitcoin
— JabroniVille69 (@JabroniVille69) February 9, 2022
Someone else posted this message:
BREAKING: If reports are to be believed, #Russia is planning to recognise #cryptocurrencies as currencies. It’s incredibly #bullish news.
I delved a little deeper. Here’s what we know right now. Thread. 1/ pic.twitter.com/NFEMyhreHD— Swagtoshi (@ProfaneBenni) February 9, 2022
You should check out the complete thread as well to see all the available details.
Bitcoin is El Salvador
Not too long ago, we revealed that El Salvador responded to the IMF following their urge for the nation to drop Bitcoin as legal tender.
We reported earlier that El Salvador made headlines when the president decided to make Bitcoin legal tender in the country.
The global institution mentioned above noted that BTC’s use as legal tender is posing risks to the country’s financial stability, integrity, and consumer protection.
CoinDesk just noted that the executive board of the International Monetary Fund recommended that El Salvador discontinue the use of bitcoin (BTC) as legal tender in the country due to the financial risks and liabilities that are created.
Now, it’s been revealed that President Nayib Bukele is responding to the International Monetary Fund’s (IMF) warning that El Salvador should remove the legal tender status of Bitcoin (BTC) with a meme.
“I see you, IMF. That’s very nice.”
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $43,786.
