Russian Bitcoin Users Can Face Jail Time up to 15 years

[CryptoCurrencyInc.com]

Russia’s Central Bank: Bitcoin Users Can Face Jail Time

MOSCOW, January 27 (RIA Novosti) – Russia’s top monetary authority slammed digital currencies Monday, warning that Bitcoin use can lead to criminal charges in the country.

The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement.

This means that Russian digital currency users can become involved in criminal activity simply by using the Bitcoin and its analogues, the regulator said.

Digital currencies also lack any backing and are used for financial speculation, which increases risks for users, the Central Bank said.

Moreover, Russian legislation directly prohibits the issuance of surrogate currency, the statement said.

Money laundering is punishable with up to seven years in prison in Russia; funding terrorism – with up to 15 years. Russia’s legislation does not state a punishment for issuing surrogate currency.

http://en.ria.ru/business/20140127/186966541/Russias-Central-Bank-Bitcoin-Users-Can-Face-Jail-Time.html

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[Lauda]

If I hold 1 BTC in my wallet, I can go to prison? I don't think so.
With that attitude, Russia will just stay behind everyone.

[5thStreetResearch]

If I hold 1 BTC in my wallet, I can go to prison? I don't think so.
With that attitude, Russia will just stay behind everyone.

well it is Russia, but I dont think you wanna try their government

[franky1]

this is the OP sniffing glue and not understanding the context of the article if he believes that bitcoin can land you in prison simply by owning it.

it has always been known, if you launder dollars, euro, pounds, yen. you will go to prison if caught. but now if you launder bitcoin because it is now treated as the same ranking as fiat, you will go to prison.

but if you use bitcoin legally, wisely and do nothing wrong. you can become legally rich.

this news article is not putting bitcoin into a bad category, it is putting the same rules on bitcoin as on any other countries fiat.

"The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement."

where as fiat of all governments ALREADY is used for laundering and terrorism funding

[acoindr]

this is the OP sniffing glue and not understanding the context of the article if he believes that bitcoin can land you in prison simply by owning it. ...

No, that's actually exactly the way it's intended to be interpreted:

The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement.

This means that Russian digital currency users can become involved in criminal activity simply by using the Bitcoin and its analogues, the regulator said.

This is meant to provide a clear chilling effect for Russians, ie, don't do this, we don't approve - you have been warned.

It is Russia.

[Trongersoll]

I wonder how this impacts Bitfury.

[MakeBelieve]

this is the OP sniffing glue and not understanding the context of the article if he believes that bitcoin can land you in prison simply by owning it.

it has always been known, if you launder dollars, euro, pounds, yen. you will go to prison if caught. but now if you launder bitcoin because it is now treated as the same ranking as fiat, you will go to prison.

but if you use bitcoin legally, wisely and do nothing wrong. you can become legally rich.

this news article is not putting bitcoin into a bad category, it is putting the same rules on bitcoin as on any other countries fiat.

"The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement."

where as fiat of all governments ALREADY is used for laundering and terrorism funding

Great little speach if you don't do any thing illegal with Bitcoin you have nothing to worry about the same as fiat.

[meanig]

Russian Ruble is toast. Withdraw all your Rubles and convert to bitcoins now!

[raskul]

Russian Ruble is toast. Withdraw all your Rubles and convert to bitcoins now!

that's a good call

[Pangia]

Wonder what impact if any it will have on BTC-E. Don't think it will.

[hilariousandco]

If I hold 1 BTC in my wallet, I can go to prison? I don't think so.
With that attitude, Russia will just stay behind everyone.

It seemingly is behind everyone with their homophobic laws and anti-gay stance. Pathetic behaviour.

[leoragraves666]

If I hold 1 BTC in my wallet, I can go to prison? I don't think so.
With that attitude, Russia will just stay behind everyone.

It seemingly is behind everyone with their homophobic laws and anti-gay stance. Pathetic behaviour.

What does anti-gay stance have to do with accepting or not btc?

[BADecker]

Russia has always attempted to control their people. Even before the Bolshevik Revolution, when the Czar still ruled, it was all about control and stealing from the people. The failure when the U.S.S.R. crashed in 1991 is what comes about when a government attempts to apply too much control over the people.

In America, the government has been operating things from the other end. Russia was always from the control freak end, having to go towards the freedom end to keep from being destroyed. The U.S. started way freer than Russia has been, like forever, and so they are testing the waters, to see how far they can go with taking freedom away from Americans.

Both, the United States and Russia are experimenting with constantly changing methods to screw their people. But both governments know that if they don't provide some freedom, they will be screwing themselves, royally. If We The People use Bitcoin the right way, we just might be able to change both governments into a whole lot more freedom, and free the whole world at the same time.

Let's put on our thinking caps and figure out ways to incorporate the freedom of the Bitcoin idea into everything - http://www.wired.com/wiredenterprise/2014/01/ethereum/

[BitCoinsLOL]

Russia is pathetic it's like evolution backwards. They get dumber and dumber. Vladamir Putin is an assclown.

[tvbcof]

Create an alt called GayCoin and then you can go to jail twice.

I actually did look to see of lgbtcoin.org was taken (among many others) but someone got it.  The only one I ended up getting was nracoin.org.

My criteria was something that I didn't care enough about to feel guilty about not giving away.  I'd probably give the NRA a decent deal, but I they are on my shit-list for 20 years of awful mainstream political support so I don't mind gouging them a bit.  I might have given the queers a deal or even given it to them for free, but since someone else got it before me I won't have to make that decision.

I also got 'bitcoin-legacy.org' and I will give that one away for free.  But very selectively.

[whtchocla7e]

Russia is pathetic it's like evolution backwards. They get dumber and dumber. Vladamir Putin is an assclown.

Better lock your doors man.. word travels fast around the globe. 

[Lauda]

Russia is pathetic it's like evolution backwards. They get dumber and dumber. Vladamir Putin is an assclown.

Putin is cool though, as a person.

[hilariousandco]

If I hold 1 BTC in my wallet, I can go to prison? I don't think so.
With that attitude, Russia will just stay behind everyone.

It seemingly is behind everyone with their homophobic laws and anti-gay stance. Pathetic behaviour.

What does anti-gay stance have to do with accepting or not btc?

It has to do with Russia being behind everything else and stifling things they have no business repressing.

Create an alt called GayCoin and then you can go to jail twice.

In soviet Russia gaycoin owns you  .

[techstorm2]

Anyone fancy creating a  putinisgaycoin.


Stalinist dickhead. !!!

 

[Littleshop]

Create an alt called GayCoin and then you can go to jail twice.

And if you stay out of jail you also need to worry about being blown up at least if you go to the games.