No Bitcoin-Ban in Russia

In Russia Bitcoins should be classified as so-called alternative money (original term money surrogates). Thus they received a status that is seen by government departments and agencies as a privatized currency. This is frowned upon in turn. The draft law was, however, now withdrawn, insiders suspect behind discrepancies in mind.

In Russia the use of private currencies will be prosectued: To threaten participants actively engaged in the currency deal heavy fines or even long prison terms of up to several years. This would exclude from the Bitcoin world a whole nation. Whether one can really trace the “offender”, still remains open. Finally, it is in the Bitcoin network is not too easy to identify appropriate participants and thus ultimately to ever hang penalties.

Nikita Soshnikov, partner of Tolkachev and Partners Law Firm from Moscow, called the Set Design “designed meager”. In an interview with CoinDesk be Soshnikov expressed with another conjecture why it came to over the said draft law. He said that the Ministry of Finance has not provided a clear justification for the criminalization of Bitcoins and they pose a risk (as a prerequisite for the criminalization). The design is very broad, so that a broad mass of activities related to electronic currencies under, money surrogates would fall’.

Soshnikov further adds that criticism from the Ministry of Justice would “not surprising” come. Also from other sources indicate that the Russian authorities want to dare a turnaround: You may want to distinguish between the future using eg Bitcoins as currency and the use of a block chain technology for other purposes.. By contrast, however, the Russian central bank.

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