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Author Topic: [2014-10-03] RIA: Finance Ministry proposes huge fines for BTC use in Russia  (Read 1581 times)
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October 03, 2014, 04:17:07 PM
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Ministry of Finance proposes to fine cryptocurrency users up to 1 million rubles (Google Translate)

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Finance Ministry of Russan Federation proposes to introduce fines of up to 1 million rubles for the issuance of any digital currency, distribution of software for the emission of such currencies, as well as for operations using it, draft law published on the official portal of Russian legal acts.

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October 03, 2014, 06:52:09 PM
 #2



1 million rubles = 100 USD

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October 03, 2014, 07:50:53 PM
 #3

The same fineś go for use of dollar and euro!
so notting inresting here....

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October 03, 2014, 07:57:56 PM
 #4



1 million rubles = 100 USD

Not really, it's actually about $25K. Not negligible, at any rate.
and how will they enforce this???
if you can exchange on btc-e Smiley
you only need one place in the word to exchange remember Smiley

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October 03, 2014, 09:06:41 PM
 #5

The same fineś go for use of dollar and euro!
so notting inresting here....


This is not correct. Proposed legislation does not concern foreign currencies at all and is targeted specifically to cryptocurrencies. Foreign currencies and their exchange will still be legal, but any operations in digital currencies will be criminalized. Now, the question of enforcement is still an open one of course. But you won't be able to legally accept BTC in your local business - they'll fine you. And it is expected that access to any websites with bitcoin-related information will be blocked from Russia.

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October 03, 2014, 10:39:21 PM
 #6

The same fineś go for use of dollar and euro!
so notting inresting here....


This is not correct. Proposed legislation does not concern foreign currencies at all and is targeted specifically to cryptocurrencies. Foreign currencies and their exchange will still be legal, but any operations in digital currencies will be criminalized. Now, the question of enforcement is still an open one of course. But you won't be able to legally accept BTC in your local business - they'll fine you. And it is expected that access to any websites with bitcoin-related information will be blocked from Russia.

Russia is here just as powerful as me making this law...
I dont care about its laws , if they have no way to enforce them ,,,, look at http://thepiratebay.se/
or http://silkroaddrugs.org/tag/silk-road-2-0/
it does not realy matter what law russia makes ore Santa makes of father chrismas makes...
if you can enforce them they are just emty words Smiley
to change to rubbles use http://www.btc-e.com
he explaines it very well , at a bilderberg like cobference.....
https://www.youtube.com/watch?v=06wUSPCoRpg&list=PL8ucbgLbIE-sR9U17GuJF8RZChrUWySl_&index=4
its simple if you cant enforce it your laws are just empty words.

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October 03, 2014, 10:47:26 PM
 #7

No summary executions? Worthless.

Saying that you don't trust someone because of their behavior is completely valid.
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October 04, 2014, 12:22:07 AM
 #8

For anyone who enjoys freedom, I guess it's time to pack up and GTFO of Russia.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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October 04, 2014, 02:12:53 AM
 #9

its symbolic 60.000 rub is 1149 euro http://themoneyconverter.com/RUB/EUR.aspx not that mutch.....
further there is no way for them to ennforce this.......
and when rubble drops because of crypto it will only be cheaper Smiley

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October 04, 2014, 07:50:28 AM
 #10

http://www.coindesk.com/russia-proposes-fines-bitcoin/

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