Bitcoin Forum

Just came across an article saying Russia warning against Bitcoin.

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


I haven't seen anyone post about this, what are your thoughts on this?

Of course the issuers of fiat hate bitcoin, how else will they steal and control?

How come that words "warning citizens" in the text of the article became "banning" in your headline?

Second paragraph of the article

The Russian Central Bank (CBR) issued a statement late Monday warning that virtual currencies, or “money surrogates” are illegal under Article 27 of the Federal Law “On the Central Bank of the Russian Federation”.

The text calls bitcoins "virtual currencies" and warns against using "virtual currencies".

In a separate paragraph it notes that it is illegal to issue "surrogate currencies"

The text does not imply in any way that "virtual currencies" are "surrogate currencies"
thus not implying that the former ones are banned.

However, it also warns that providing a service involving virtual currencies to companies (not individuals) 
will be considered as a potential involvement in dubious (yes, it uses a rather vague term)
operations as per the money laundry legislation.  (text in brackets mine)

Russia will do what it needs to control its citizens.

That's not a very good news. Is it safe to keep our money on BTC-e?

It's never safe to keep any amount of money you care about on an exchange.

BTC-e is not Russian

Are you sure about that?

Emphasis mine. See their terms (https://btc-e.com/page/1).

I have also heard that it is based in Bulgaria....
Seems like it is a big mystery lol :P

You're wrong. They are russians, but this company is offshore.

Do they even have a real company?

China "banned" bitcoins. Russia "banned " bitcoins. Both seemingly issued only a warning. For now.

yes finally, a bunch of people that can read a newspaper properly and understand that all of these bank warnings are truly that, only warnings.

thank god the sheeple of 2013 are not here spreading propaganda and chinese whispers. now all we need is to fix the media to only publish the truth....

.. well an impossible task i know. but atleast today i get to see a few people that can read between the lines and pull out the truth from someone elses misunderstandings.

We all know banning BTC is useless. Especially in massive countries such as China and Russia. There's no realistic way to prevent people from buying and selling amongst themselves. The only thing that can harm BTC is exchanges getting shutdown or the inability to transfer BTC to other people.

The price tends to increase each time a government tries to step. Let 'em keep coming at it.

Its even worse if youre a Gay bitcoin user. Lol


Did we expect anything else from the likes of russia and china?

Did china embrace the internet, no, they dont allow their citizens to use google or facebook openly without being controlled. Why would we expect them to treat bitcoin any differently.

 ;D

Requesting not to speculate. Russia is NOT banning Bitcoin. Rather Russia has the highest share of Bitcoin on free faucet earning. Russia is against illegal uses of Bitcoin, e.g. terror funding, skin business etc, same as of USA.

That regulation is a perfect example. It's on the books and the firewall is up, however, it's easy to get around. All you need is a $10/mo VPN.

I can't imagine they'll have some super sophisticated BTC blocking technology any time soon.

This.
Learn to read before spreading FUD. They just issued the same warning as other banks, seems like they feel threatened.

not surprised by this

Like Russians care if something is illegal. :P

On a more serious note, I really think Russia is probably one of the last places on earth that would ban BTC, the only place in the world where the biggest bank actually takes a very positive stance about Bitcoin. 

http://invezz.com/news/forex/8404-bitcoin-usd-head-of-russias-biggest-bank-backs-bitcoin