Bitcoin here, Bitcoin there!. The world’s number one cryptocurrency is now worth over $14,000. Bitcoin has gained immense popularity in the past few weeks, with millions of people all over the world asking Google about Bitcoin.
While many Bitcoin skeptics and naysayers still believe the recent Bitcoin ubiquity is just a flash in the pan, with some like Jamie Dimon saying Bitcoin is a fraud, while some others like the highly reputable trader- Mark Fisher has said Bitcoin would crash as Silver did in the past.
Russia’s Presidential Candidate Vows To Legalize Bitcoin
Boris Titov is the current Presidential Commissioner for Entrepreneurs’ Rights and business ombudsman. Titov who is running for Russian Presidency in 2018 has said in an interview with Mail.ru that Bitcoin and other cryptocurrencies will be legalized in Russia if he is elected come 2018. As described by the Moscow Times, “Titov is part of the Kremlin establishment and friends with President Vladimir Putin, he is also an economic liberal and heads up the President’s efforts to fight corruption.
” In the words of Titov, as excerpted on bitcoin.com, he said:”popular cryptocurrencies, including Bitcoin and Ethereum, will be legalized. People will have the opportunity to store them [Bitcoin] in banks and crypto exchanges and use as a means of payment, however, only for external transactions.”
The Presidential candidate further reiterated the need to change the Russian economy and the Russian society, to give room for further development Blockchain and cryptocurrencies and the Russian Information Technology ecosystem.
Titov Is a Bitcoin Enthusiast
Back in October, President Vladimir Putin ordered for the creation of Russia’s national cryptocurrency- the Cryptoruble and the first proposal for the Cryptoruble have been submitted by the Ministry of Communications and Mass Media.
Titov in an interview with the Russian news outlet has hinted that his administration will not create a national crypto instead it would strengthen the existing Cryptocurrencies.
“Three months ago we thought about creating a national currency. But everything changes quickly, and we abandoned this idea. After all, the task of cryptocurrency is to reduce costs. And we realized that this [national] cryptocurrency is not necessary, it is more important to regulate what is.” Titov said.
It is pertinent to note, that Titov is an advocate of Bitcoin and he has never hidden this fact. In July 2017, the presidential candidate was reported to have asked the Central Bank of Russia to legalize Bitcoin just like Japan has done.
In February 2017, as reported by klops.ru, Titov suggested that the Russian authorities make Bitcoin an official currency and legal tender, in the Kaliningrad region of Russia.
It remains to be seen if Boris Titov will be elected president in 2018 since President Vladimir Putin has made his intentions to run for re-election known.