[2014-02-06] Now official: using Bitcoins is completely illegal in Russia

[Arvicco]

http://genproc.gov.ru/smi/news/genproc/news-86432/

Googletranslated with some clean-up:

General Prosecutor's Office of the Russian Federation held a joint meeting on the legality of the anonymous payment systems and cryptocurrencies


February 6, 2014 , 16:19 Prosecutor General

Monitoring the situation of the so-called anonymous virtual currencies (cryptocurrencies) shows a growing interest using them for the purpose of money laundering of proceeds from crime.

In this regard, the General Prosecutor of the Russian Federation held a group meeting of the Interagency Working Group on combating crimes in the sphere of the economy devoted to the prevention of use of anonymous payment systems and cryptocurrencies on the territory of Russian Federation. Meeting was chaired by Chief of the supervision of the execution of federal law Anatoly Palamarchuk.

This group consisted of Deputy Chairman of the Central Bank of Russia Dmitry Skobelkin, head of Bank of Russia financial crime prevention, as well as officials of the FSB (Russian FBI) and the Russian Interior Ministry, central staff of the General Prosecutor of Russia.

In accordance with Art.27 of the Federal Law "On the Central Bank of the Russian Federation", the only allowed currency for circulation in the Russian Federation is the ruble. Introduction on the territory of Russia of other monetary units or money substitutes is illegal. Distributed anonymous payment systems and cryptocurrencies, including the most famous of them - Bitcoin are deemed money substitutes and are illegal for use by either individuals or legal entities (companies).

The distinguishing feature Bitcoin and similar virtual currencies are anonymity and lack of real value. Its price is determined solely by speculative actions that entails high financial risks, as a consequence its trading is a violation of the statutes both for citizens and organizations. The owners of cryptocurrencies in Russia are denied any means of legal protection in courts or administrative entities.

Following the meeting, outlining specific joint actions of the Bank of Russia and law enforcement to prevent criminal violations in the sphere of money circulation in Russia, a number of specific measures is approved aimed at preventing such violations of citizens and organizations associated with the use cryptocurrencies. Taking into account international experience, commission identified further areas for legal regulation and enforcement in this sector.

Development of the situation and the enforcement of the above mentioned measures will be discussed at the next group meeting.

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[Arvicco]

Being extensively covered in Russian press right now:

http://bitnovosti.com/2014/02/06/genprokuratura-fsb-mery-protiv-bitcoina
http://top.rbc.ru/economics/06/02/2014/903864.shtml
http://rus.ruvr.ru/news/2014_02_06/Genprokuratura-Bitcoin-i-drugie-kriptovaljuti-ne-mogut-hodit-v-obrashhenii-v-RF-3998/
http://tjournal.ru/paper/operation-antibitcoin
http://moneynews.ru/News/18462/
http://news.mail.ru/politics/16837191/

[ArticMine]

If I understand correctly it is also illegal to conduct trade in Russia between a Russian individual and  / or legal entity and another Russian individual and  / or legal entity in USD, EUR etc., so in effect this places Bitcoin in a similar position to that of USD, EUR etc.

[Arvicco]

If I understand correctly it is also illegal to conduct trade in Russia between a Russian individual and  / or legal entity and another Russian individual and  / or legal entity in USD, EUR etc., so in effect this places Bitcoin in a similar position to that of USD, EUR etc.

Correct, it is illegal to trade, transact or deal in foreign currencies in Russia - unless one party to such deal is a properly licensed financial entity. There are multiple bank exchange offices everywhere in Russia, so exchange between foreign currency and rubles is not a problem.

Situation is completely different for cryptocurrencies. Since Bank of Russia specifically prohibited financial entities from touching cryptocurrencies, any kind of Bitcoin use is now considered illegal for anyone. There was no statement on the legality of their ownership just yet.

[thms]

Free publicity for bitcoin in Russia

also I wonder what will be the news in the near future?

"Housewife arrested for saving 5 BTC in electronic wallet?"

Woow really?

[seriouscoin]

LOL suck jokes..... idiotic Russian goverment...

So what stop Russians from using bitcoin to buy stuff online from retailers all over the world? Nothing....

[roslinpl]

Free publicity for bitcoin in Russia

also I wonder what will be the news in the near future?

"Housewife arrested for saving 5 BTC in electronic wallet?"

Woow really?

well, Russia is Russia.

But. Do you think Russians will not use bitcoin cause it is illegal?
I dont think so.
But, unfortunatly it will be not as easy as for most of us.

[Arvicco]

But. Do you think Russians will not use bitcoin cause it is illegal?
I dont think so.

Of course, existing Russian bitcoiners will continue to use it. But, it is still a tiny portion of a whole population. The effect of a legal ban is a serious barrier to a wider penetration of Bitcoin into populace. People are always wary of illegal stuff.

This ban also sets a dangerous precedent that some other countries with authocracy in power will be sure to follow. Kazakhstan was making noises about banning cryptocurrencies just recently: http://www.coindesk.com/kazakhstans-central-bank-ban-bitcoin-protect-bankers/

[roslinpl]

But. Do you think Russians will not use bitcoin cause it is illegal?
I dont think so.

Of course, existing Russian bitcoiners will continue to use it. But, it is still a tiny portion of a whole population. The effect of a legal ban is a serious barrier to a wider penetration of Bitcoin into populace. People are always wary of illegal stuff.

This ban also sets a dangerous precedent that some other countries with authocracy in power will be sure to follow. Kazakhstan was making noises about banning cryptocurrencies just recently: http://www.coindesk.com/kazakhstans-central-bank-ban-bitcoin-protect-bankers/

I guess it would be good for btc if Russia legalize it. But I guess nothing very bad happend to those who are outside Russia and price of btc will not drop.

And I guess, one day Russia gov will see profits from cryptos and will legalize it. If not now I guess in few years. For those time all russian bitcoin users must be aware and trade btc on interweb

[kjlimo]

So is this the same as when China announced a "BAN" on bitcoin???

AKA - not a ban?

[Arvicco]

So is this the same as when China announced a "BAN" on bitcoin???

No, it's very different. China blocked financials transfers to Bitcoin exchanges but otherwise considers Bitcoins legal. Russian authorities are very clear - any operations with Bitcoin in Russia are illegal. Any company accepting Bitcoin payments will be prosecuted. Exchange is illegal as well, even between individuals.

The big question is now, of course, enforcement. It will be very interesting to see how the first known case of cryptocurrency criminalization by a state actor turns out.

[giantdragon]

Russian people tend to ignore prohibitions and will use Bitcoin even more actively for savings and spending abroad!
The only bad thing is that Russian companies (especially physical who cannot operate from the offshore) aren't allowed to accept Bitcoin so this can constrain adoption.

[DuckDodgers]

Rule of law is still something of a foreign concept in Russia, so any enforcement of such prohibition would be selective at best. The Russia authorities often use routine income taxation investigations as a legal pretext to strike against "inconvenient" individuals or organizations. There could be a couple of showcase actions to scare the populace, but nothing more serious. With the rampant corruption running in all the powerful institutions and departments, the cryptocurrency could actually become a viable mean of covert payments in those cases.

[TooCasual]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES" 

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

[roslinpl]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES" 

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

Maybe guys from anonymous should help russia bitcoin users.

Bitcoin is good for all of us!

[Bobsurplus]

Who cares... Bitcoin will rule the world with or without stupid Russian laws banning it.

[keithers]

If I understand correctly it is also illegal to conduct trade in Russia between a Russian individual and  / or legal entity and another Russian individual and  / or legal entity in USD, EUR etc., so in effect this places Bitcoin in a similar position to that of USD, EUR etc.

Yes, based on that information provided, it is in the same boat as any other currency in comparison to the local currency of Russia.  I don't quite get how they will monitor if citizens are using it to purchase goods outside of Russia, or does it not even apply then if the transaction isn't taking place in Russia.

[HeliKopterBen]

Great!  Everything is going according to plan 

[notthematrix]

If I understand correctly it is also illegal to conduct trade in Russia between a Russian individual and  / or legal entity and another Russian individual and  / or legal entity in USD, EUR etc., so in effect this places Bitcoin in a similar position to that of USD, EUR etc.

Yes, based on that information provided, it is in the same boat as any other currency in comparison to the local currency of Russia.  I don't quite get how they will monitor if citizens are using it to purchase goods outside of Russia, or does it not even apply then if the transaction isn't taking place in Russia.

the law forbidding $ and euros is there since the USSR 1917 , nothing has changed and we al know what happend to the USSR.
and we all know that the $ was more used then the rubble so it will be with the bitcoin.

[MEpatriot]

Russia will be forced to adopt it.  The USPS situation proves the real world money masters are setting it up to be the global "reset" once the paper defaults.

[roslinpl]

Great!  Everything is going according to plan 

according to what plan?


do you know something that we should know to?

(or you think you do?)

[bitbouillion]

If I understand correctly it is also illegal to conduct trade in Russia between a Russian individual and  / or legal entity and another Russian individual and  / or legal entity in USD, EUR etc., so in effect this places Bitcoin in a similar position to that of USD, EUR etc.

Correct, it is illegal to trade, transact or deal in foreign currencies in Russia - unless one party to such deal is a properly licensed financial entity. There are multiple bank exchange offices everywhere in Russia, so exchange between foreign currency and rubles is not a problem.

Situation is completely different for cryptocurrencies. Since Bank of Russia specifically prohibited financial entities from touching cryptocurrencies, any kind of Bitcoin use is now considered illegal for anyone. There was no statement on the legality of their ownership just yet.

As I understand this, trade with or use of bitcoins is illegal now, but not holding bitcoins. Otherwise it would be illegal to hold physical USD or EUR on Russian territory too.

And what law prevents a Russian to buy bitcoins on a foreign exchange and keep them in a wallet abroad?

[oakpacific]

Being Russians, how can these bureaucrats be so ignorant about math?

You can't outlaw the creation and circulation of Bitcoin, unless you outlaw computation with SHA-256 hash functions and possibly, outlaw any logic operation as it's entirely doable to rewrite the hash function to achieve the same output, only taking more steps and longer time.

[ShawnLeary]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES" 

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

They never left it

[Arvicco]

As I understand this, trade with or use of bitcoins is illegal now, but not holding bitcoins. Otherwise it would be illegal to hold physical USD or EUR on Russian territory too.

And what law prevents a Russian to buy bitcoins on a foreign exchange and keep them in a wallet abroad?

At least, so far there was no statement from Russian authorities on the legality of Bitcoin ownership per se. In practical terms, any attempt to police Bitcoin ownership by individual users will not work. Also, there is no law prohibiting such ownership that I'm aware of.

However, Russian police is not very concerned about following the letter of the law. They routinely miraculously find "just enough crack to put in jail" while searching any person those in power don't like. If they find bitcoins while searching the house of an opposition figure, for example, they may throw a "money laundering using cryptocurrencies" charge on top of all the others, and pliant Russian court will just rubber-stamp the charges as it always does.

[bitbouillion]

However, Russian police is not very concerned about following the letter of the law. They routinely miraculously find "just enough crack to put in jail" while searching any person those in power don't like.

On the other hand, if you are on the right side of this corrupt system, just go ahead and use bitcoins.

[smith88]

Considering how widely known the Russian government is corrupt and ran by multiple mob families who are only concerned about their initiatives... I am not surprised or bothered.  Bitcoin is much stronger than this.

[Last1212]

There are no official statements in Russia about Bitcoin prohibition. All this news - "yellow" press. Nowadays there are discussions about that question but - no official prohibition for individuals.

[anu]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES" 

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

They never left it

Indeed. The Russian communists are still in charge and they have a history of charming gullible Westerners into investing there - only to disappropriate them later. Should this news be real, it should be a warning sign for all foreign investors in Russia that another cycle of openness->investment->disappropriation is coming to an end.

[Nemo1024]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES" 

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

[Last1212]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES"  

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

Lol, your mass media washed your brains. All info you get from mass media about Russia - lie.

[jadagles]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES"  

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

Lol, your mass media washed your brains. All info you get from mass media about Russia - lie.

Please explain, I'm very interested. As far as I know, Putin is using the church as a tool for ruling the country. Sadly this type of secularization will end in hatred of people over the church and not on the power, thus breaking the spirit of the country.

[roslinpl]

Bitcoin is a truly one world currency, Russia is seeing the western world adopt it very quick and may be rejecting it only for the sake of rivalry against the occident.

Russia is not a country
Russia is a state of mind.

[seriouscoin]

i'm sure many prostitutes in Russia (high end escort service for foreign VIPs) would love to accept btc for their services, it would only bringing many clients around the world.

[escrow.ms]

It's not illegal to have/trade bitcoins in russia, if it completely banned webmoney should have posted some kind of announcement.

http://wmx.webmoney.ru/

The only change I see there is..
Attention! The minimum required passport level for performing top-ups and withdrawals is a formal passport that passed a data verification procedure.

[Last1212]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES"  

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

Lol, your mass media washed your brains. All info you get from mass media about Russia - lie.

Please explain, I'm very interested. As far as I know, Putin is using the church as a tool for ruling the country. Sadly this type of secularization will end in hatred of people over the church and not on the power, thus breaking the spirit of the country.

Any prooflink about Putin usage of church?

[roslinpl]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES"  

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

Lol, your mass media washed your brains. All info you get from mass media about Russia - lie.

Please explain, I'm very interested. As far as I know, Putin is using the church as a tool for ruling the country. Sadly this type of secularization will end in hatred of people over the church and not on the power, thus breaking the spirit of the country.

Any prooflink about Putin usage of church?

I dont get it at all.

Putin seems to be a nice and inteligent guy.
He should invest into bitcoin on his own!

Or maybe!! it his his plan to dump price
hehehe

[freebit13]

http://genproc.gov.ru/smi/news/genproc/news-86432/

Googletranslated with some clean-up:

General Prosecutor's Office of the Russian Federation held a joint meeting on the legality of the anonymous payment systems and cryptocurrencies


February 6, 2014 , 16:19 Prosecutor General

Monitoring the situation of the so-called anonymous virtual currencies (cryptocurrencies) shows a growing interest using them for the purpose of money laundering of proceeds from crime.

In this regard, the General Prosecutor of the Russian Federation held a group meeting of the Interagency Working Group on combating crimes in the sphere of the economy devoted to the prevention of use of anonymous payment systems and cryptocurrencies on the territory of Russian Federation. Meeting was chaired by Chief of the supervision of the execution of federal law Anatoly Palamarchuk.

This group consisted of Deputy Chairman of the Central Bank of Russia Dmitry Skobelkin, head of Bank of Russia financial crime prevention, as well as officials of the FSB (Russian FBI) and the Russian Interior Ministry, central staff of the General Prosecutor of Russia.

In accordance with Art.27 of the Federal Law "On the Central Bank of the Russian Federation", the only allowed currency for circulation in the Russian Federation is the ruble. Introduction on the territory of Russia of other monetary units or money substitutes is illegal. Distributed anonymous payment systems and cryptocurrencies, including the most famous of them - Bitcoin are deemed money substitutes and are illegal for use by either individuals or legal entities (companies).

The distinguishing feature Bitcoin and similar virtual currencies are anonymity and lack of real value. Its price is determined solely by speculative actions that entails high financial risks, as a consequence its trading is a violation of the statutes both for citizens and organizations. The owners of cryptocurrencies in Russia are denied any means of legal protection in courts or administrative entities.

Following the meeting, outlining specific joint actions of the Bank of Russia and law enforcement to prevent criminal violations in the sphere of money circulation in Russia, a number of specific measures is approved aimed at preventing such violations of citizens and organizations associated with the use cryptocurrencies. Taking into account international experience, commission identified further areas for legal regulation and enforcement in this sector.

Development of the situation and the enforcement of the above mentioned measures will be discussed at the next group meeting.

Now who gets to argue exactly where the Satoshis are hiding... are they actually on the territory of Russia?

[jadagles]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES"  

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

Lol, your mass media washed your brains. All info you get from mass media about Russia - lie.

Please explain, I'm very interested. As far as I know, Putin is using the church as a tool for ruling the country. Sadly this type of secularization will end in hatred of people over the church and not on the power, thus breaking the spirit of the country.

Any prooflink about Putin usage of church?

You need to study, read some books to understand these things. Read sociology and philosophy on this topic, faith and secularism. Also you need to see what types are there etc. and relate this with the social environment in Russia and on what foundations is built.

[Last1212]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES"  

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

Lol, your mass media washed your brains. All info you get from mass media about Russia - lie.

Please explain, I'm very interested. As far as I know, Putin is using the church as a tool for ruling the country. Sadly this type of secularization will end in hatred of people over the church and not on the power, thus breaking the spirit of the country.

Any prooflink about Putin usage of church?

You need to study, read some books to understand these things. Read sociology and philosophy on this topic, faith and secularism. Also you need to see what types are there etc. and relate this with the social environment in Russia and on what foundations is built.

You need proofs before saying smth... No one will believe your words without facts and there are no facts now. You don't know anything about Russia, but you tries to look smart in related aspects.

[notthematrix]

In russie there is a saying..

You say that you pay us , So we say that we work!

So basicly you say we can not use bitcoins , so we dont use them , we let our computers do the payment.
or we exchange them outside russia for goods  , or we accept them but ask price in rubble  , russians are very creative look at the art of the olympic game and evenb the 2014 has a dubble meaning , in cryllic is also writes sotci... and 2014 at the same time!
 
Russians have a nice way of sayng things.


 

[jadagles]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES"  

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

Lol, your mass media washed your brains. All info you get from mass media about Russia - lie.

Please explain, I'm very interested. As far as I know, Putin is using the church as a tool for ruling the country. Sadly this type of secularization will end in hatred of people over the church and not on the power, thus breaking the spirit of the country.

Any prooflink about Putin usage of church?

You need to study, read some books to understand these things. Read sociology and philosophy on this topic, faith and secularism. Also you need to see what types are there etc. and relate this with the social environment in Russia and on what foundations is built.

You need proofs before saying smth... No one will believe your words without facts and there are no facts now. You don't know anything about Russia, but you tries to look smart in related aspects.

A person who needs a picture for an explanation of recent times history, philosophy and sociology clearly does not need anything else than a shallow understanding of reality. Things cannot be grasped in 10 pages let alone 1 image of it, thus there is the question how can you be satisfied? Better take my word for it, or if not, then start reading.

[EskimoBob]

Some of you say it's banned, some of you say it is not.
Do any of you have a  link to reliable source  to clear this up?

BTW, how is this going to affect http://btc-e.com operations? If I recall, they are operating form Ukraine.

One more thing, China did not ban BTC. Only bank/fin institutions can not invest or trade BTC and for the rest, they can do what ever they want but have no protection from their gov. if get ripped off or lose their coin.

[manfred]

Some of you say it's banned, some of you say it is not.
Do any of you have a  link to reliable source  to clear this up?

BTW, how is this going to affect http://btc-e.com operations? If I recall, they are operating form Ukraine.

One more thing, China did not ban BTC. Only bank/fin institutions can not invest or trade BTC and for the rest, they can do what ever they want but have no protection from their gov. if get ripped off or lose their coin.

BTC-e does not operate from Ukraine. Its servers are in Bulgaria and it is Cyprus registered so Cyprus jurisdiction (EU) applys. Anyone signing up to them and bothers reading the terms and conditions they agree on and not just click the button know this.

[notthematrix]

Some of you say it's banned, some of you say it is not.
Do any of you have a  link to reliable source  to clear this up?

BTW, how is this going to affect http://btc-e.com operations? If I recall, they are operating form Ukraine.

One more thing, China did not ban BTC. Only bank/fin institutions can not invest or trade BTC and for the rest, they can do what ever they want but have no protection from their gov. if get ripped off or lose their coin.

BTC-e does not operate from Ukraine. Its servers are in Bulgaria and it is Cyprus registered so Cyprus jurisdiction (EU) applys. Anyone signing up to them and bothers reading the terms and conditions they agree on and not just click the button know this.

ah btc-e is a smart setup company , Knowing the rules .... http://www.youtube.com/watch?v=d4o13isDdfY explains the rules , and especialy the loopholes.....

[jadagles]

Some of you say it's banned, some of you say it is not.
Do any of you have a  link to reliable source  to clear this up?

BTW, how is this going to affect http://btc-e.com operations? If I recall, they are operating form Ukraine.

One more thing, China did not ban BTC. Only bank/fin institutions can not invest or trade BTC and for the rest, they can do what ever they want but have no protection from their gov. if get ripped off or lose their coin.

BTC-e does not operate from Ukraine. Its servers are in Bulgaria and it is Cyprus registered so Cyprus jurisdiction (EU) applys. Anyone signing up to them and bothers reading the terms and conditions they agree on and not just click the button know this.

ah btc-e is a smart setup company , Knowing the rules .... http://www.youtube.com/watch?v=d4o13isDdfY explains the rules , and especialy the loopholes.....

Very nice documentary you have there, another black area in logic has been enlightened.

[notthematrix]

Some of you say it's banned, some of you say it is not.
Do any of you have a  link to reliable source  to clear this up?

BTW, how is this going to affect http://btc-e.com operations? If I recall, they are operating form Ukraine.

One more thing, China did not ban BTC. Only bank/fin institutions can not invest or trade BTC and for the rest, they can do what ever they want but have no protection from their gov. if get ripped off or lose their coin.

BTC-e does not operate from Ukraine. Its servers are in Bulgaria and it is Cyprus registered so Cyprus jurisdiction (EU) applys. Anyone signing up to them and bothers reading the terms and conditions they agree on and not just click the button know this.

ah btc-e is a smart setup company , Knowing the rules .... http://www.youtube.com/watch?v=d4o13isDdfY explains the rules , and especialy the loopholes.....

Very nice documentary you have there, another black area in logic has been enlightened.

VPRO backlight has very good docu's about the bankin system , VPRO is part of dutch PBS and the makers valentary choose to translate to englisch to increase range.
the tax free tour rules will never change , bitcoin is a new system that will nog be destroyed it wil simply replace the banks but first the fat cats need te get in , they keep the servants away with FUD.
and when the F.U.D is found out to be invalid the pie has been served to the (new) elite....
so they serfs again will miss out.
 

[jadagles]

Some of you say it's banned, some of you say it is not.
Do any of you have a  link to reliable source  to clear this up?

BTW, how is this going to affect http://btc-e.com operations? If I recall, they are operating form Ukraine.

One more thing, China did not ban BTC. Only bank/fin institutions can not invest or trade BTC and for the rest, they can do what ever they want but have no protection from their gov. if get ripped off or lose their coin.

BTC-e does not operate from Ukraine. Its servers are in Bulgaria and it is Cyprus registered so Cyprus jurisdiction (EU) applys. Anyone signing up to them and bothers reading the terms and conditions they agree on and not just click the button know this.

ah btc-e is a smart setup company , Knowing the rules .... http://www.youtube.com/watch?v=d4o13isDdfY explains the rules , and especialy the loopholes.....

Very nice documentary you have there, another black area in logic has been enlightened.

VPRO backlight has very good docu's about the bankin system , VPRO is part of dutch PBS and the makers valentary choose to translate to englisch to increase range.
the tax free tour rules will never change , bitcoin is a new system that will nog be destroyed it wil simply replace the banks but first the fat cats need te get in , they keep the servants away with FUD.
and when the F.U.D is found out to be invalid the pie has been served to the (new) elite....
so they serfs again will miss out.
 

You are so right. Bitcoin imo will seriously rise in value, now I think they are tring to find a stealth way for conversion. Soon the banking system will fail, and the paper money will be worthless. The majority of people don't understand this yet, and sadly they will lose a lot of wealth. For me it is obvious that bitcoin is absolutely the next big thing, the next economic system. Still, I don't understand how to relate China and the massive gold that is acquiring and bitcoin. They know that the American dollar will default, and thus all the paper money that are not backed up in gold. Most of them. So they want to back up a type of currency with gold, but I'm afraid that a virtual currency like bitcoin will not be possible. We will see. I will bet on bitcoin or some other alt coin that promises.

[NoEscape0]

Most importatn part from the end of this text: http://genproc.gov.ru/smi/news/genproc/news-86432/
"Пo итoгaм coвeщaния нaмeчeны кoнкpeтныe coвмecтныe дeйcтвия Бaнкa Poccии и пpaвooxpaнитeльныx opгaнoв пo пpeдoтвpaщeнию вoзмoжныx пpaвoнapyшeний в cфepe дeнeжнoгo oбpaщeния в Poccии, пpинят pяд кoнкpeтныx peшeний, нaпpaвлeнныx нa пpeдoтвpaщeниe нapyшeния имyщecтвeнныx пpaв гpaждaн и opгaнизaций, cвязaнныx c иcпoльзoвaниeм кpиптoвaлют. C yчeтoм зapyбeжнoгo oпытa oпpeдeлeны дaльнeйшиe нaпpaвлeния paбoты пo пpaвoвoй peглaмeнтaции дaннoй cфepы."

It says that gouverment and Russian Bank (main Russian's bank) and organizations like police and KGB will do something to prevent using crypto coins (but it doesnt say what EXACTLY they gonna do).

"Paзвитиe cитyaции и выпoлнeниe вышeyкaзaнныx мepoпpиятий бyдyт oбcyждeны нa cлeдyющeм зaceдaнии экcпepтнoй гpyппы."
Situation controlling and actions to prevent using crypto will be discussed on the next stade of the experts group meetiing.
_
So it was expected from our gouverment that they would try to prevent btc and other cryptos but Im sbsolutly sur that they wont be able to close rus trade sites (most popular is https://btc-e.com/) and somehow hurt crypto community. Also we dont know what exactly the gonna do with the coins.
I guess they did it to protect rubble cost(cause its falling a bit)

__
btw sorry for my bad english.

[NoEscape0]

Poor Russians...  Their government is saying "WE ARE STAYING IN THE DARK AGES"  

They didn't go back to communism when I wasn't looking did they?

Weird.

TC.

No, they went to "religionism", which is even worse than communism. The church has got an enormous amount of power and the people are plunged into the brainwashed real dark age.

Lol, your mass media washed your brains. All info you get from mass media about Russia - lie.

Please explain, I'm very interested. As far as I know, Putin is using the church as a tool for ruling the country. Sadly this type of secularization will end in hatred of people over the church and not on the power, thus breaking the spirit of the country.

Well, only 10-20% of people who younger then 30 y.o. belive in god. So its impossible to control them with the church. And I can harly remember last time when I saw Putin meeting Patriarh Kirill (rus church leader o smth like that) on TV.

"All info you get from mass media about Russia - lie." - true) May be not all the info, but at leeast 80% of it.

[Last1212]

It says that gouverment and Russian Bank (main Russian's bank) and organizations like police and KGB will do something to prevent using crypto coins (but it doesnt say what EXACTLY they gonna do).

Nope, your statement false.
There is no KGB in Russia.
You all judge Russia, but you don't know about Russia much. Lol, it is so funny

[NoEscape0]

It says that gouverment and Russian Bank (main Russian's bank) and organizations like police and KGB will do something to prevent using crypto coins (but it doesnt say what EXACTLY they gonna do).

Nope, your statement false.
There is no KGB in Russia.
You all judge Russia, but you don't know about Russia much. Lol, it is so funny

O_o
first: im not judging Russia, im judging its gouverment.
second: no KGB, ok, my fault, I was ment organizations that can controll people by the law and lamost forgot the kgb was in ussr but not now, lol.
third: im russian

[Last1212]

It says that gouverment and Russian Bank (main Russian's bank) and organizations like police and KGB will do something to prevent using crypto coins (but it doesnt say what EXACTLY they gonna do).

Nope, your statement false.
There is no KGB in Russia.
You all judge Russia, but you don't know about Russia much. Lol, it is so funny

O_o
first: im not judging Russia, im judging its gouverment.
second: no KGB, ok, my fault, I was ment organizations that can controll people by the law and lamost forgot the kgb was in ussr but not now, lol.
third: im russian

He пoзopь cтpaнy

[notthematrix]

Some of you say it's banned, some of you say it is not.
Do any of you have a  link to reliable source  to clear this up?

BTW, how is this going to affect http://btc-e.com operations? If I recall, they are operating form Ukraine.

One more thing, China did not ban BTC. Only bank/fin institutions can not invest or trade BTC and for the rest, they can do what ever they want but have no protection from their gov. if get ripped off or lose their coin.

BTC-e does not operate from Ukraine. Its servers are in Bulgaria and it is Cyprus registered so Cyprus jurisdiction (EU) applys. Anyone signing up to them and bothers reading the terms and conditions they agree on and not just click the button know this.

ah btc-e is a smart setup company , Knowing the rules .... http://www.youtube.com/watch?v=d4o13isDdfY explains the rules , and especialy the loopholes.....

Very nice documentary you have there, another black area in logic has been enlightened.

VPRO backlight has very good docu's about the bankin system , VPRO is part of dutch PBS and the makers valentary choose to translate to englisch to increase range.
the tax free tour rules will never change , bitcoin is a new system that will nog be destroyed it wil simply replace the banks but first the fat cats need te get in , they keep the servants away with FUD.
and when the F.U.D is found out to be invalid the pie has been served to the (new) elite....
so they serfs again will miss out.
 

You are so right. Bitcoin imo will seriously rise in value, now I think they are tring to find a stealth way for conversion. Soon the banking system will fail, and the paper money will be worthless. The majority of people don't understand this yet, and sadly they will lose a lot of wealth. For me it is obvious that bitcoin is absolutely the next big thing, the next economic system. Still, I don't understand how to relate China and the massive gold that is acquiring and bitcoin. They know that the American dollar will default, and thus all the paper money that are not backed up in gold. Most of them. So they want to back up a type of currency with gold, but I'm afraid that a virtual currency like bitcoin will not be possible. We will see. I will bet on bitcoin or some other alt coin that promises.

It will be multiple currencies , but bitcoin will be the most expensive one (gold) , others will be there to increase transaction bandwith but the will be build on the price of bitcoin , bitcoin will be the virtual gold litecoin the silver etc.
The real problem we are facing and elite is aware of this , is the fact that we dont have resources for endless growth.
http://www.youtube.com/watch?v=Sqwd_u6HkMo and to get the enemy/everybody in they understand it must be a decentral system nobody has full control over , because only if everybody is submitting the power to a decentralized non inflationary system it will work.
the other option is complete war over resources in 20 / 25 years from now...
the servs don't realize this.
but my guess is that this is why bitcoin will never be banned for real.

[Last1212]

Some of you say it's banned, some of you say it is not.
Do any of you have a  link to reliable source  to clear this up?

BTW, how is this going to affect http://btc-e.com operations? If I recall, they are operating form Ukraine.

One more thing, China did not ban BTC. Only bank/fin institutions can not invest or trade BTC and for the rest, they can do what ever they want but have no protection from their gov. if get ripped off or lose their coin.

BTC-e does not operate from Ukraine. Its servers are in Bulgaria and it is Cyprus registered so Cyprus jurisdiction (EU) applys. Anyone signing up to them and bothers reading the terms and conditions they agree on and not just click the button know this.

ah btc-e is a smart setup company , Knowing the rules .... http://www.youtube.com/watch?v=d4o13isDdfY explains the rules , and especialy the loopholes.....

Very nice documentary you have there, another black area in logic has been enlightened.

VPRO backlight has very good docu's about the bankin system , VPRO is part of dutch PBS and the makers valentary choose to translate to englisch to increase range.
the tax free tour rules will never change , bitcoin is a new system that will nog be destroyed it wil simply replace the banks but first the fat cats need te get in , they keep the servants away with FUD.
and when the F.U.D is found out to be invalid the pie has been served to the (new) elite....
so they serfs again will miss out.
 

You are so right. Bitcoin imo will seriously rise in value, now I think they are tring to find a stealth way for conversion. Soon the banking system will fail, and the paper money will be worthless. The majority of people don't understand this yet, and sadly they will lose a lot of wealth. For me it is obvious that bitcoin is absolutely the next big thing, the next economic system. Still, I don't understand how to relate China and the massive gold that is acquiring and bitcoin. They know that the American dollar will default, and thus all the paper money that are not backed up in gold. Most of them. So they want to back up a type of currency with gold, but I'm afraid that a virtual currency like bitcoin will not be possible. We will see. I will bet on bitcoin or some other alt coin that promises.

It will be multiple currencies , but bitcoin will be the most expensive one (gold) , others will be there to increase transaction bandwith but the will be build on the price of bitcoin , bitcoin will be the virtual gold litecoin the silver etc.
The real problem we are facing and elite is aware of this , is the fact that we dont have resources for endless growth.
http://www.youtube.com/watch?v=Sqwd_u6HkMo and to get the enemy/everybody in they understand it must be a decentral system nobody has full control over , because only if everybody is submitting the power to a decentralized non inflationary system it will work.
the other option is complete war over resources in 20 / 25 years from now...
the servs don't realize this.
but my guess is that this is why bitcoin will never be banned for real.

Goverment can buy asics and do 51% attack. Then we will lose everything.

[LiteCoinGuy]

You are so right. Bitcoin imo will seriously rise in value, now I think they are tring to find a stealth way for conversion. Soon the banking system will fail, and the paper money will be worthless. The majority of people don't understand this yet, and sadly they will lose a lot of wealth. For me it is obvious that bitcoin is absolutely the next big thing, the next economic system. Still, I don't understand how to relate China and the massive gold that is acquiring and bitcoin. They know that the American dollar will default, and thus all the paper money that are not backed up in gold. Most of them. So they want to back up a type of currency with gold, but I'm afraid that a virtual currency like bitcoin will not be possible. We will see. I will bet on bitcoin or some other alt coin that promises.

It will be multiple currencies , but bitcoin will be the most expensive one (gold) , others will be there to increase transaction bandwith but the will be build on the price of bitcoin , bitcoin will be the virtual gold litecoin the silver etc.
The real problem we are facing and elite is aware of this , is the fact that we dont have resources for endless growth.
http://www.youtube.com/watch?v=Sqwd_u6HkMo and to get the enemy/everybody in they understand it must be a decentral system nobody has full control over , because only if everybody is submitting the power to a decentralized non inflationary system it will work.
the other option is complete war over resources in 20 / 25 years from now...
the servs don't realize this.
but my guess is that this is why bitcoin will never be banned for real.

Goverment can buy asics and do 51% attack. Then we will lose everything.

ahhh okay...

[NoEscape0]

It says that gouverment and Russian Bank (main Russian's bank) and organizations like police and KGB will do something to prevent using crypto coins (but it doesnt say what EXACTLY they gonna do).

Nope, your statement false.
There is no KGB in Russia.
You all judge Russia, but you don't know about Russia much. Lol, it is so funny

O_o
first: im not judging Russia, im judging its gouverment.
second: no KGB, ok, my fault, I was ment organizations that can controll people by the law and lamost forgot the kgb was in ussr but not now, lol.
third: im russian

He пoзopь cтpaнy

Пpocтo xoтeл внecти яcнocть, чтo тeкyщий зaпpeт co cтopoны пpaвитeльcтвa вce paвнo нe нa чтo eщё нe пoвлиял, к тoмy жe, нe дo кoнцa извecтнo чтo oни пpeдпpимyт в бyдyщeм, cтoит пoдoждaть coбpaния экcпepтoв и пocмoтpeть чтo oни тaм peшaт.

A тaк, дa, c кгб лoxoнyлcя).

[Last1212]

It says that gouverment and Russian Bank (main Russian's bank) and organizations like police and KGB will do something to prevent using crypto coins (but it doesnt say what EXACTLY they gonna do).

Nope, your statement false.
There is no KGB in Russia.
You all judge Russia, but you don't know about Russia much. Lol, it is so funny

O_o
first: im not judging Russia, im judging its gouverment.
second: no KGB, ok, my fault, I was ment organizations that can controll people by the law and lamost forgot the kgb was in ussr but not now, lol.
third: im russian

He пoзopь cтpaнy

Пpocтo xoтeл внecти яcнocть, чтo тeкyщий зaпpeт co cтopoны пpaвитeльcтвa вce paвнo нe нa чтo eщё нe пoвлиял, к тoмy жe, нe дo кoнцa извecтнo чтo oни пpeдпpимyт в бyдyщeм, cтoит пoдoждaть coбpaния экcпepтoв и пocмoтpeть кaкиe дeйcтвия oни peшaт пpeдпpинять.

A тaк, дa, c кгб лoxoнyлcя).

Meня нoвocти oгopчaют, тoжe ждy яcнocти. B миpoвoм мacштaбe зaпpeт нe пoвлияeт, нo в чacтнoм, пpидeтcя иcкaть бoлee cлoжныe лeгaльныe cпocoбы вывoдa.

[LiteCoinGuy]

Russia Says Bitcoin Should Be Avoided

http://techcrunch.com/2014/02/07/russia-bans-bitcoin/

[NoEscape0]

It says that gouverment and Russian Bank (main Russian's bank) and organizations like police and KGB will do something to prevent using crypto coins (but it doesnt say what EXACTLY they gonna do).

Nope, your statement false.
There is no KGB in Russia.
You all judge Russia, but you don't know about Russia much. Lol, it is so funny

O_o
first: im not judging Russia, im judging its gouverment.
second: no KGB, ok, my fault, I was ment organizations that can controll people by the law and lamost forgot the kgb was in ussr but not now, lol.
third: im russian

He пoзopь cтpaнy

Пpocтo xoтeл внecти яcнocть, чтo тeкyщий зaпpeт co cтopoны пpaвитeльcтвa вce paвнo нe нa чтo eщё нe пoвлиял, к тoмy жe, нe дo кoнцa извecтнo чтo oни пpeдпpимyт в бyдyщeм, cтoит пoдoждaть coбpaния экcпepтoв и пocмoтpeть кaкиe дeйcтвия oни peшaт пpeдпpинять.

A тaк, дa, c кгб лoxoнyлcя).

Meня нoвocти oгopчaют, тoжe ждy яcнocти. B миpoвoм мacштaбe зaпpeт нe пoвлияeт, нo в чacтнoм, пpидeтcя иcкaть бoлee cлoжныe лeгaльныe cпocoбы вывoдa.

Дyмaю, тyт нe cтoлькo c вывoдoм пpoблeмы бyдyт, cкoлькo c cepвиcaми, кoтopыe мoгли бы пpинимaть кoины и пpoдaвaть зa ниx тoвapы и ycлyги. Ecли вaлютy нeльзя бyдeт иcпoльзoвaть кaк вaлютy, a нe кaк cпeкyлятивнyю eдиницy, тo и cмыcлa в нeй нe бoльнo тo и мнoгo.

Кacaтeльнo ввoдa\вывoдa: вpoдe кaк нaибoлee пoпyляpныe cepвиcы (киви\пэйпaл\вeбмaни\визa и т.д.) мoгyт впoлнe быть иcпoльзoвaны для ввoдa\вывoдa, дaжe нe инфopмиpyя влaдeльцeв этиx cepвиcoв o тoм, кyдa и зa чтo oни вывoдят дeньги (для ниx этo бyдeт выглядeть кaк пepeвoд мeждy кoшeлькaми и ничeгo бoлee), тaк чтo c этим мoжнo нe oпacaтьcя (нy, paзвe чтo, ecли нe ycyгyбят eщё oдин зaкoн, кoгдa мoжнo xpaнить в oнлaйнe бeз пpивязки к личнocти мeнee 15к pyблeй. ecли yмeньшaт цифpy тo этo дocтaвит пpoблeм).

Haдeюcь, вce эти пpoблeмы в Poccии нe cильнo ycyгyбят кypc биткa (вpoдe кaк вceгo лишь 6-7% дepжaтeлeй кpипты из Poccии).

[BotwinBG]

Can someone smarter than me do an analys on the situation - is it banned, what is banned etc?

[NoEscape0]

Can someone smarter than me do an analys on the situation - is it banned, what is banned etc?

They decided to ban it but still did decide how exactly they should do it. Group of experts will meet to make a final decision soon.

[notthematrix]

Can someone smarter than me do an analys on the situation - is it banned, what is banned etc?

They decided to ban it but still did decide how exactly they should do it. Group of experts will meet to make a final decision soon.

they want first the elite to havce it.
They dont know how to ban it is just an other way of saying , that only insiders can use it.
insiders like theese https://www.youtube.com/watch?v=d4o13isDdfY banning will never be executed , because its making a law demanding PI sould be 2.27 instead of 3.14 , yes you can make that law no you can not enforce it.

[notthematrix]

Russian lawmaker wants to outlaw U.S. dollar, calls it a Ponzi scheme

http://www.washingtontimes.com/news/2013/nov/13/bill-would-outlaw-us-dollar-russia/

[notthematrix]

Most importatn part from the end of this text: http://genproc.gov.ru/smi/news/genproc/news-86432/
"Пo итoгaм coвeщaния нaмeчeны кoнкpeтныe coвмecтныe дeйcтвия Бaнкa Poccии и пpaвooxpaнитeльныx opгaнoв пo пpeдoтвpaщeнию вoзмoжныx пpaвoнapyшeний в cфepe дeнeжнoгo oбpaщeния в Poccии, пpинят pяд кoнкpeтныx peшeний, нaпpaвлeнныx нa пpeдoтвpaщeниe нapyшeния имyщecтвeнныx пpaв гpaждaн и opгaнизaций, cвязaнныx c иcпoльзoвaниeм кpиптoвaлют. C yчeтoм зapyбeжнoгo oпытa oпpeдeлeны дaльнeйшиe нaпpaвлeния paбoты пo пpaвoвoй peглaмeнтaции дaннoй cфepы."

It says that gouverment and Russian Bank (main Russian's bank) and organizations like police and KGB will do something to prevent using crypto coins (but it doesnt say what EXACTLY they gonna do).

"Paзвитиe cитyaции и выпoлнeниe вышeyкaзaнныx мepoпpиятий бyдyт oбcyждeны нa cлeдyющeм зaceдaнии экcпepтнoй гpyппы."
Situation controlling and actions to prevent using crypto will be discussed on the next stade of the experts group meetiing.
_
So it was expected from our gouverment that they would try to prevent btc and other cryptos but Im sbsolutly sur that they wont be able to close rus trade sites (most popular is https://btc-e.com/) and somehow hurt crypto community. Also we dont know what exactly the gonna do with the coins.
I guess they did it to protect rubble cost(cause its falling a bit)

__
btw sorry for my bad english.

Holy satoshi thats scary  

its just the same with dollar , it is banned since 1917 https://bitcointalk.org/index.php?topic=456754.0 same law.

[sharedminers]

So technically, it is illegal now for russians to buy and sell bitcoins?

[keithers]

This is kind of off topic, but how in the hell did Russia get approved for the Olympics with how bad of condition all the places are for the participants to stay?  Have you guys seen it on TV?  In United States there is some idiot Senator saying how it is super probable that something will be "detonated" near the Olympic games.   Talk about FUD

[NoEscape0]

This is kind of off topic, but how in the hell did Russia get approved for the Olympics with how bad of condition all the places are for the participants to stay?  Have you guys seen it on TV?  In United States there is some idiot Senator saying how it is super probable that something will be "detonated" near the Olympic games.   Talk about FUD

Well, I didnt go to Olimpics and none of my friends did, so all the info i have is the info from tv and internet (and it could be not true). Guys on tv shows only good conditions. I saw some things in the internet like broken door-handles (but after some guy found out that it there was a guy who broke about 10-20 handles and photographed it), rusty water (but after i found same image that was publiced in 2010), awkward toilets and so on.

Btw it doesnt seems too bad. Olympics in Sochyon a quite good level so relax)

[Last1212]

This is kind of off topic, but how in the hell did Russia get approved for the Olympics with how bad of condition all the places are for the participants to stay?  Have you guys seen it on TV?  In United States there is some idiot Senator saying how it is super probable that something will be "detonated" near the Olympic games.   Talk about FUD

Cause your noob goverment didn't want to spend money on Olympic games in crisis time, but Russia is much more rich and generous.

[BTCWizard]

Something illegal in Russia, than I'm sure nobody will use it there.

[bitbd83]

But Russia will have to adopt BTC soon. Study the December China crash....what was there?? Same thing happen to Russia soon.

[NoEscape0]

Something illegal in Russia, than I'm sure nobody will use it there.

Lol, who cares about gouverment decision. Im sure that everty btc holders will continue to hold it even after the gouverment will make crypto illegal.

[zeuzzz]

Great!  Everything is going according to plan 

My thoughts exactly, let the most power hungry totalitarian states ban it, then the west will end up playing the "we don't want to ban bitcoin, only repressive regimes like China or Russia do that" political card, which will almost certainly boost widespread support in all the countries that have not banned it. Besides, how will russia deal with the situation the FBI was in recently when the silk road went down, a massive heap of wallets full of bitcoins. They will most likely end up selling them, they would not throw millions away.

[btcjedi]

exchange between foreign currency and rubles is not a problem. There are multiple bank exchange offices everywhere in Russia

[TonyZX]

Despite the fact that "Russia is Russia" I think there would be a day when they will also accept bitcoin but it will happen only after it is legalized in every other developed and developing country as Russia usually copy other world's actions.

[ISAWHIM]

So Russians can't use paypal, USD, EUR, CC's, Crypto-coins, e-gold, WOW-gold, IMVU-credits, Lindens or facebook-coins...

Isn't BTCe operating out of Russia...

They said they can't be used as "currency replacement", not "assets".

Crypto-coins (despite the term "coins"), are not intended to replace currency. They depend on currency, like any other asset. I think they are trying to say that "they do not have to be accepted to pay debts", which is what a currency is for. "legal tender, which MUST be accepted for payments". As an asset, it is optionally acceptable for you to use. However, since it is not "legal tender" or "currency", you would still have to "make tax payments in currency", not "bitcoins". Just as you can't pay "Credit" as a tax payment. You have to pay the "currency they accept, or a currency acceptable substitute". For them, there is no substitute except the denomination they control. (Unlike in the USA, you can pay in EURO, however, it could still be refused. Bitcoins however, would never be accepted, at the moment, for government payment... except when they want to take them from you, to cash-in for themselves. Then, all of a sudden, it is OK to use them, for them.)

I am not translating Russian law, I am just assuming, as an American, that they did like every other place, and simply identified crypto-coins as "non-currency". To cover their asses, unless something changes, and they decide it is good to use it, even if only to keep Russian funds within their own country. Which is a task that banks can't seem to manage.

[notthematrix]

So Russians can't use paypal, USD, EUR, CC's, Crypto-coins, e-gold, WOW-gold, IMVU-credits, Lindens or facebook-coins...

Isn't BTCe operating out of Russia...

They said they can't be used as "currency replacement", not "assets".

Crypto-coins (despite the term "coins"), are not intended to replace currency. They depend on currency, like any other asset. I think they are trying to say that "they do not have to be accepted to pay debts", which is what a currency is for. "legal tender, which MUST be accepted for payments". As an asset, it is optionally acceptable for you to use. However, since it is not "legal tender" or "currency", you would still have to "make tax payments in currency", not "bitcoins". Just as you can't pay "Credit" as a tax payment. You have to pay the "currency they accept, or a currency acceptable substitute". For them, there is no substitute except the denomination they control. (Unlike in the USA, you can pay in EURO, however, it could still be refused. Bitcoins however, would never be accepted, at the moment, for government payment... except when they want to take them from you, to cash-in for themselves. Then, all of a sudden, it is OK to use them, for them.)

I am not translating Russian law, I am just assuming, as an American, that they did like every other place, and simply identified crypto-coins as "non-currency". To cover their asses, unless something changes, and they decide it is good to use it, even if only to keep Russian funds within their own country. Which is a task that banks can't seem to manage.

btc-e is NOT operating from russia , so it does not care about russia.

[roslinpl]

Russia Says Bitcoin Should Be Avoided

http://techcrunch.com/2014/02/07/russia-bans-bitcoin/

Poland says Bitcoin is THE CHOSEN ONE!



God damn, why thing cant just go easy ....
problems everywhere ... only problems

I am waiting to see a briiiight light again!

[Nemo1024]

Russia Says Bitcoin Should Be Avoided

http://techcrunch.com/2014/02/07/russia-bans-bitcoin/

Poland says Bitcoin is THE CHOSEN ONE!



God damn, why thing cant just go easy ....
problems everywhere ... only problems

I am waiting to see a briiiight light again!

He-he. If Russia said that the sky is blue, Poland would immediately decry it as a lie and state with full authority that the sky is green. They would also send a political emissary to god to demand that it should follow the new EU-directive on green-sky. Nothing new there. 

[TonyZX]

Although it is illegal to use Bitcoin I am sure people will continue to use it but it just would be more difficult

[baitanjzcop4282]

 They worry about that as they could be tied to gangs involved in money laundering and terrorist financing.

[baitanjzcop4282]

Meanwhile Bitcoin is an independent currency which is not regulated by a government ,and therefore “carries a high risk in devaluation.”

[JeffZwolle]

Bumping an over two year old topic
 

[InvoKing]

They worry about that as they could be tied to gangs involved in money laundering and terrorist financing.

Please stop bumping old topics it is against the rules besides i read few times ago that Russia may change its policy against bitcoin...

[notthematrix]

They worry about that as they could be tied to gangs involved in money laundering and terrorist financing.

Please stop bumping old topics it is against the rules besides i read few times ago that Russia may change its policy against bitcoin...

Exactly stop bumping this bullshit , ANYTHING except rubble is ILLIGAL this also goes for euro , Dollar and Yuan!
this is the case since 1917 Stalin!
so please stop this bullshit because it has noting to do with Bitcoin!