[2015-09-26] Russian Ministry Proposes Correctional Labor Penalty for Bitcoin...

[tyz]

Russian Ministry Proposes Correctional Labor Penalty for Bitcoin Crimes

Russia’s Ministry of Finance has produced a new edition of its proposed law that would each outlaw and apply criminal penalties for bitcoin use.

http://www.coindesk.com/russian-ministry-correctional-labor-penalty-bitcoin-crimes/

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[Kprawn]

This is more a political move to protect the Russian ruble   .... Originally, the ruble was the currency of the Russian Empire and the Soviet Union before its dissolution.

The Russian ruble is also the world's first decimal currency, being decimalised in 1704 when the ruble became legally equal to 100 kopeks.

In November 2004, the authorities of Dimitrovgrad (Ulyanovsk Oblast) erected a five-meter monument to the ruble.

Example of previous political protection of the status of their currency : http://www.huffingtonpost.com/2014/07/09/russian-banknote-apollo-gay_n_5570695.html

So it has a huge history and political background, and any other competing currency are being perceived as a threat or defined as "money substitutes"

They will cling to it, until it pulls them down into the murky debts

[bryant.coleman]

This is more a political move to protect the Russian ruble   .... Originally, the ruble was the currency of the Russian Empire and the Soviet Union before its dissolution.

The Russian Central Bank directives on the possession and trade of Bitcoins are not enforceable. Tens of thousands of Russians trade in Bitcoin every day, and many of the earliest adopters of BTC were Russian. How they are going to arrest people who store Bitcoin in their wallets? It is next to impossible, if proper anonymization methods are used.

[Snorek]

This is more a political move to protect the Russian ruble   .... Originally, the ruble was the currency of the Russian Empire and the Soviet Union before its dissolution.

The Russian Central Bank directives on the possession and trade of Bitcoins are not enforceable. Tens of thousands of Russians trade in Bitcoin every day, and many of the earliest adopters of BTC were Russian. How they are going to arrest people who store Bitcoin in their wallets? It is next to impossible, if proper anonymization methods are used.

It is not fact that Russian government agencies does not have proper technology and possibilities to track bitcoin users down.
But the fact that bitcoin is considered something evil, improper and even harmful by Russian law is the  real problem here.

[bryant.coleman]

It is not fact that Russian government agencies does not have proper technology and possibilities to track bitcoin users down.
But the fact that bitcoin is considered something evil, improper and even harmful by Russian law is the  real problem here.

This is not just limited to Russia. Even in the "liberal" New York, the Bitcoin users are harassed. Bitcoin usage is frowned upon by most of the regimes (both democratic and dictatorial ones). Only some of the smaller nations, such as the Channel Islands, Cayman Islands and Singapore are fully allowing the proper usage of Bitcoins.