Bitcoin Forum

3 hours ago Bitcoin was officially banned in Russia. No English language news source yet, but Russian news sites are all abuzz about it:

http://bitnovosti.com/2014/01/27/bank-rossii-ozvuchil-poziciyu/
http://top.rbc.ru/economics/27/01/2014/901833.shtml
http://slon.ru/fast/economics/tsb-zapretil-bitkoyn-1049157.xhtml

Use Google translate, everything is quite clear. Everything Bitcoin-related is banned, including issuance (mining), exchanges, transfers and payment processing. Each company exchanging or accepting Bitcoin will be automatically charged with "supporting terrorism".

Russia wins the dubious distinction of becoming the first country in the world to officially ban Bitcoin (unlike earlier Thailand myth).

If anyone has WMX in WebMoney wallets, it's probably a good idea to withdraw them to your Bitcoin wallet asap. It's quite likely that they'll be frozen or confiscated very soon.

Popular russian exchange metabank.ru closed due to last news. (https://bitcointalk.org/index.php?topic=435259.0)

It's interesting to see what happens to BTC-e now...

Google transations:

http://translate.google.com/translate?hl=en&sl=ru&tl=en&u=http%3A%2F%2Ftop.rbc.ru%2Feconomics%2F27%2F01%2F2014%2F901833.shtml (http://translate.google.com/translate?hl=en&sl=ru&tl=en&u=http%3A%2F%2Ftop.rbc.ru%2Feconomics%2F27%2F01%2F2014%2F901833.shtml)
http://translate.google.com/translate?hl=en&sl=ru&tl=en&u=http%3A%2F%2Fbitnovosti.com%2F2014%2F01%2F27%2Fbank-rossii-ozvuchil-poziciyu%2F (http://translate.google.com/translate?hl=en&sl=ru&tl=en&u=http%3A%2F%2Fbitnovosti.com%2F2014%2F01%2F27%2Fbank-rossii-ozvuchil-poziciyu%2F)
http://translate.google.com/translate?hl=en&sl=ru&tl=en&u=http%3A%2F%2Fslon.ru%2Ffast%2Feconomics%2Ftsb-zapretil-bitkoyn-1049157.xhtml (http://translate.google.com/translate?hl=en&sl=ru&tl=en&u=http%3A%2F%2Fslon.ru%2Ffast%2Feconomics%2Ftsb-zapretil-bitkoyn-1049157.xhtml)

Supporting terrorism? lolwat? I wonder if they have actually banned it or is this the China situation all over again.

Seems like it is not banned, just the same old warnings:

http://www.coindesk.com/bank-of-russia-issues-warning/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29

Yes, it's a warning, not a some new ban.

Seems the ban applies only for corporations, not personal users.
Also it is only recommendation because the laws can pass only State Duma (parliament of Russia).

Let em ban it then they will be shooting themselves in the face when it get's so high that it makes all other currencies irrelevant and not worth squat.

Nothing on Russia Today so far. http://rt.com/search/everywhere/term/bitcoin/

I'm sure they'll have something soon, but I wouldn't believe anything just yet. Russia seems to be pretty twatish about stuff recently - their homophobia and throwing protesters in prison etc. Then again, they've taken in Snowden, so.,,

Thought as much. Where did the supporting terrorism come from then?

If RT is not confirming it then I don't trust the leaks
Seen to many people run a bad article then have it spread through the network
Only to be shown it was incorrect
Believe they issued a warning

russians=hackers,dota2 noobs

This is the russian central bank’s press release on its official website. (http://www.cbr.ru/press/PR.aspx?file=27012014_1825052.htm) What else do you want?

Are these governments schizophrenic?

Russian State media promotes bitcoin like crazy.... then bans it?

Chinese State media promotes bitcoin... then bans it? Then sort of un-bans it, without really saying so?

US federal hearing endorses bitcoin system... then arrests or bans everyone not part of the corporate establishment?


What's with the mixed messages, guys? Can't make up your mind?

I'd to be told it directly from Vladimir ;D

Translation of the above link: http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.cbr.ru%2Fpress%2FPR.aspx%3Ffile%3D27012014_1825052.htm

isn't that based in Bulgaria?
http://en.wikipedia.org/wiki/BTC-E
Location   Unknown City, Bulgaria, European Union[1]


if you believe in consipracies they may be trying to do whats most destructive in their minds to bitcoin; increasing volatility

Media promotion is like "hey, look at those freaks, haha".
And when it becomes to "oh f@ck, everybody around started to use bitcoin insted of our crappy currency" — government comes out and takes measures.

I hope it is.
It's an ancient russian tradition to host servers anywhere but Russia.
But governments still can freeze russian accounts for fiat currencies and we will have another gying MtGox (https://bitcointalk.org/index.php?topic=432477.0;topicseen).

you can only echane to russian rubble so they can be sending it from everywhere but russia.

if you believe in consipracies they may be trying to do whats most destructive in their minds to bitcoin; increasing volatility
[/quote]

I think that would be an overcomplicated tactic. May as well just ban it to begin with.  

There's definitely something tactical about the gamesmanship here, and I think the general idea is so that nobody knows what to think. Which sounds like I'm agreeing with you, but I mean it in a broader context. So it's like a question with multiple answers, all correct and all wrong, it just depends what you want to believe.

RT has run this story

http://rt.com/business/bitcoin-warning-russia-bank-280/

Yep it was a warning not a ban  ;D

A warning not to use it or you'll be punished? The other link in one of the other threads seemed to suggest it was prohibited.

A lot of partys that want a lower price , so FUD is big buisness.
RT would bring it big if there was a ban.

Can this be interpreted as ban of mining?

http://www.cbr.ru/press/PR.aspx?file=27012014_1825052.htm
The Bank of Russia has warned that Russian legal entities providing services for the exchange of "virtual currency" in rubles and foreign currency, as well as for goods (works, services) will be considered as a potential involvement in the implementation of suspicious transactions in accordance with the legislation on counteraction to legalization (laundering) proceeds of crime and financing of terrorism.

____
A warning is not a Ban but its enough to instill some fear
Also the Central Bank is not the government (We had the same type of issue with Thailand)
http://qz.com/110164/thailands-infamous-bitcoin-crackdown-is-not-quite-what-it-seems/
The interpretation of the mining sector in the terms of money surrogates is an interesting one
Would say its vague  Russia has not explicitly banned mining
Still it would classify as a risky venture for operating centers based in Russia until more information is acquired

That said the rules on Bitcoin exchanges are clear as day
One important caveat to note is that it says issuing alternative currencies is prohibited. The Bank of Russia argued that users might be breaking the law unintentionally because they may aid those who are part of transaction and exchanges services intending to break the law, such as money laundering, financing terrorism or drug dealing.
http://www.pfhub.com/bank-of-russia-says-bitcoin-users-could-be-unintentionally-breaking-the-law-322/
One Day Old

Will side comment though

http://www.coindesk.com/russias-largest-bank-backs-bitcoin/
Two Days Old
Last week, a set of amendments introduced in the Russian parliament caused a fair amount of FUD (fear, uncertainty and doubt) in the bitcoin community, as it was misinterpreted as potential bitcoin ban. Russian regulators are of course keeping a close eye on digital currencies, as are their counterparts across the world. However, they have not taken any noteworthy action against the proliferation of digital currencies in Russia.

President of the Russian Electronic Money Association Viktor Dostov told Bloomberg that it is still unclear how Russia would regulate digital currencies. He stated that the only point of control would be an exchange centre where bitcoins would be traded for money. However, we are not sure whether Dostov is advocating the creation of a centralised exchange on a national level, or simply referring to independent bitcoin exchanges. It is a case of lost in translation.

In any case, Gref’s statements should go a long way toward reassuring bitcoin investors and enthusiasts in Russia and CIS member states for that matter.

It is also interesting to note that in a recent interview with CNN, Russian Prime Minister Dmitry Medvedev admitted the country’s economy is slowing down, but pointed out that his government is gradually transforming Russia into a knowledge-based economy and introducing 21st century technology into various industries.

Whether or not Russia is ready to embrace 21st century payment systems and alternative currencies remains to be seen.

But side URL
http://bitlegal.net/#map

oh they had a good chance to be a prosperous place for BTC's. still wondering why they did they do it since they already have a bad record in money laundry etc...