Russia Proposes Jail Sentence for Bitcoin Activities

[bryant.coleman]

Bitcoin is traceable. The Russian government should develop ways to trace the illegal use of bitcoin. It should work closely with the exchanges so that money laundering is prevented/reduced.

How is Bitcoin traceable? Use a good VPN (based in the United States or any of the European Union nations), and use anonymous exchanges such as BTC-e. And when you convert your coins to fiat cash, use anonymous methods such as debit cards. Unless you make some serious blunder, there is no chance of the government tracing your Bitcoin activity.

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[moneyflow]

Ministry of Finance is cracking down on cryptocurrencies in general, and this new proposal could just be the beginning of things to come


http://bitcoinist.net/russia-proposes-jail-sentence-bitcoin-activities/

Just another example how the authorities are scared of the rise of virtual currency. Would it not be easier to just legalize it and put certain regulation for safe and secure transactions? I think Russia (and others) need to wake up and face the facts that BTCs are here to stay.

[n2004al]

I don't really understand why they want to stiffle digital currencies. It would be a great tool for Russia to surpass a lot of sanctions.

You are in big wrong. Russia is not at all against the digital currencies. It is against bitcoin. That's a very different thing. Russia have fear from bitcoin and invent excuses to ban it. The Russian Authorities have fear because the Russians, seeing the weakness of its national money, will choose bitcoin to use and hold their capital. This can damage further their economy already in crisis. As for Russian Authorities hate against digital currencies read well the below article when is written that, according to various rumors, Russia is preparing to create the (digital) bitruble.

http://cointelegraph.com/news/115302/russia-to-create-bitruble-a-state-run-digital-currency-for-2016

[kyrios_]

Wow if this actually happens... somethings gonna happen