Use of Bitcoin banned in Russia

[Ebenesh]

 

"Systems for anonymous payments and cyber currencies that have gained considerable circulation — including the most well-known, Bitcoin — are money substitutes and cannot be used by individuals or legal entities," said the Russia's Prosecutor General's Office in a recent report by Reuters . They further stated that  use of Bitcoin will be considered as "potentially suspicious,". "Citizens and legal entities risk being drawn — even unintentionally — into illegal activity, including laundering of money obtained through crime, as well as financing terrorism," the release stated. Russian law stipulates that the rouble is the sole official currency and that introducing any other monetary units or substitutes was illegal.

The office also said that they will be working with law enforcement to tighten regulations and prevent legal offences committed with the use of Bitcoins. The US Bitcoin community seems to be far developed in terms of intense scrutiny than in Russia as authorities are already tracking  illegal activity carried out using the digital currency.

 

Source : Reuters 

Original post : TechAlways

 

[Critical Jeff]

I'm not surprised.

[helping]

this has been established for a while now..

[Ebenesh]

It's banned here in India as well 

[voaz]

It's just a hype. the whole (bit)Coin thing.

[T.Vengeance]

It's just a hype. the whole (bit)Coin thing.

Depends who you talk to. There are ATMs in Vancouver, Ottawa, and Toronto that accept Bitcoin transactions.

[Dragontail]

Goverments ban things all the time doesn´t mean people stop to use it..... And how would they go about looking for BT-transactions? Its a ban noone can control so its useless, if people see value in cryptocurrencies no entity can say otherwise.

[TheNinjaNextDor]

More like banned coin >_>