Russian Parliamentary Candidate to Promote Bitcoin Legalization

News and Analysis

Alexey Bragin, board member of and coordinator at ReactOS, has confirmed he intends to stand as a parliamentary candidate to participate in primary elections in order to partake in elections for the Russian Parliament, the State Duma, this September.

Bragin claims his basic purpose is to defend science and small businesses and to promote new technologies. Notably, he claimed  he would be defending cryptocurrency.

“I intend not only to strain after its legalization, but also after its active employment to the benefit of the country and its people. Complete ban of cryptocurrency is a losing position by default. One cannot ban a decentralized cryptocurrency, one may only place some obstacles on its way. In that case, however, Russia would lose significant profits. Companies will just avoid registering in Russia, they won’t pay taxes, and developers will go working abroad,” Bragin says.

Earlier Bragin stated that cryptocurrency ban doesn’t fit into Russia’s 2009 concept of creating an international financial center. However, he considers reasonable regulation necessary.

“Legalization means application of all measures to make usage of cryptocurrency (along with other commodities and monies) for terrorism, corruption and other crimes impossible. That’s what they should put their efforts to, and the earlier, the better,” he said.

Primary elections for further parliamentary elections is to be held on May 22.

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