A bill drafted last month is seeking to ban the use of Bitcoin in Russia. The content of the bill proposes a ban on all money surrogates to the Russian Ruble. A Cryptocurrency such as Bitcoin falls in the category of a money surrogate, meaning it’s use will be banned if the bill passes legislation. Any businesses operating a virtual currency business are subject to fines, depending on one’s status the fines increase proportionally:
“fifty thousand to seventy thousand rubles along with confiscation of the administrative violation item for entrepreneurs; eighty thousand to one hundred thousand rubles for officials; two million to three million rubles along with confiscation of the administrative violation item for legal entities.”
Read More and View the chart here: http://themerkle.com/news/localbitcoins-rub-volume-drops/
Topic: [2016-1-18] Localbitcoins RUB volume drops due to a bill seeking a Bitcoin ban (Read 236 times)
January 18, 2016, 05:34:42 AM
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