ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Bitcoin Will Never Be ‘Legal Entity,’ Says Russian Minister




Russia’s Minister of Communications and Mass Media has stated that while the Russian government is interested in some blockchain technology use cases, it will not recognize bitcoin “as a legal entity.”

On November 20, communications and mass media minister Nikolai Nikiforov told reporters that Russia will never recognize the legality of bitcoin, though the nation may consider other uses for the currency's underlying blockchain technology.

According to state media outlet Tass, Nikiforov said, "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation. However, I think that it is quite possible to use blockchain technology and the use of various digital tokens."

He continued: "I think we should go ahead from the technological viewpoint, providing such instruments," suggesting, albeit not for the first time, the possibility of some degree of state involvement in the development of blockchain-based solutions.

In mid-October, Nikiforov had announced that, following a decision by President Vladimir Putin, Russia would be minting its own state-backed cryptocurrency, the "cryptoruble." At the time, he cautioned his audience against reading the news as a sign that his government was warming up to other cryptocurrencies. 

Adam Reese

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam holds value in Ether, Bitcoin, and Monero.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest bitcoin, Russia or other Ethereum world news.