The long-uncertain legal environment for bitcoin in Russia took a step forward toward clarity this December as lawmakers submitted a new draft bill to the Duma – Russia's legislative assembly – that would effectively ban the use of digital currencies like bitcoin domestically.
The development may not be surprising to industry observers, as talks of a bitcoin ban in Russia have been rife in the news for over a year amid broader concerns of capital flight. However, the latest bill is perhaps the most concrete step taken by government officials to date to crack down on the emerging technology's expansion.
The Russian Ministry of Finance, which oversees policy and legislation for the industry, has repeatedly indicated its opposition against allowing the use of digital currencies as an alternative to government-issued money, although they have clarified that blockchain applications of the technology are not viewed so harshly.
Read more :
http://www.coindesk.com/bill-bitcoin-ban-russian-legislature/
