Topic: A 7-Yr Prison Term for Bitcoin Use, Says Russian Finance Ministry - page 4. (Read 3195 times)

Are you a registered money transmitter?
Do you understand what is involved in becoming a money transmitter?
No idea what's involved in Russia, but here, in the States, it begins with:
-- https://en.wikipedia.org/wiki/Money_transmitter
Something tells me that people are not going to put down $1 million, or even $25k, for the privilege of using Bitcoin, but that's just me.

No. That's the OLD proposed penalties, Franky. Those aren't news. The news is that
-- http://www.coindesk.com/report-russia-to-propose-7-year-prison-sentences-for-digital-currency-issuers/
If your claim held any water, the headline would read
"BREAKING: Russian Finance Ministry tightened did absolutely nothing about the penalties it proposed last January.
More news about shit that didn't change at 11."

But kudos for drawing me in.

ok ill spoonfeed you,

people that are unregistered as money transmitters (selling prepaid debit cards on the blackmarket, loansharks, counterfeiters, etc) will get punished by

http://www.zakonrf.info/uk/187/

all that is essentially changing is the punishment for being unregistered

Perhaps it's a language problem, so I'll explain: Jackbooted thugs may embrace chemistry blockchain, the technology behind meth labs Bitcoin, without embracing meth labs themselves Bitcoin itself.

Hope I've clarified things a bit

I do not know what to believe when it comes to Russia, the jump from one extreme to the next, when it comes to Bitcoin. The amount of FUD being spread about Bitcoin is becoming insane. You need at least

7 different sources to confirm anything coming out of Russia, before you can believe anything. The one moment it is banned and the next moment they embrace the technology and want to implement it

everywhere. Let's wait for the other 6 sources to confirm this, before we believe or confirm it.

Yes to everything.  Seems like FUD from cryptonews and Russia should clarify where it stands. If they are going this direction then that is sad as bitcoin will be good for the globe.

that's what i thought.
i have stopped believing in crap cryptocoinsnews.com spreads a long time ago.
they are just twisting every bitcoin related news and add lots of FUD and then put it up.

it is simply for more traffic to their crappy website.

"Sully the image of Russia"?! Because Russia is trying to curb crime within her borders?


http://sputniknews.com/business/20160225/1035349748/bitcoins-drug-dealiers-russia.html
Please read the thread I've linked to in my previous post.

@Feanky1: Not going to troll me twice. You'll just keep repeating that every news outlet is wrong & you're right. Not worth my time.

Russian government is being as stupid and immature as usual, They are literally preventing there people from a decent investment just because they are afraid from a real market for there currency real value...

This news item hasn't been picked up by any major news agency, and so I am inclined to agree with Franky1.
If things were indeed so drastic, I don't see any international agency passing the chance to sully the image of Russia. 

have you even read the actual draft? its been a month.. or are you still stuck just reading the date??

by the way selling coffee is not the same as being western union.
selling coffee is not the same as the blackmarket sell of prepaid debit cards holding dollars

selling coffee is not the same as being a 'bureau de change' (currency exchange)

please i beg of you stop reading the news and read the actual source documents. i thought after a month you would have tried to, even as an intention to find some valuable sentance in the real document that debunks mine. but instead all you can quote is a media, quoting a media, quoting a media. where even the video you tried to use as your source seen the guy actually talk about bitcoin positively.

and all you could do is point to the caption saying look here is the word bitcoin.. and thats it. no transcript of him saying holding bitcoin is illegal. no transcript of him being completely negative about it.

i even told you what he said, because he was joking saying
"went to an ATM, withdrew some bank notes and put 5000 rubles into his pocket. that no one, not even NATO can trace those bank notes. but with bitcoin every transaction is locked into history"

also if you knew russian you would know he is saying
"electronic money like bitcoin is very interesting,"

so please try to read the source. it will help you out. really. it would

in short the video is not a "dont do bitcoins" style of video. so it holds no substance to be used as a debunk.
th actual draft documents talk about people not registering data will get a civil fine if individual/small business.. or if large institution doing illegal stuff then expect largest fine or prison.

again please read th source material not the dramaqueen script media produces

if your russian and in fear. dont worry.

just register as money transmitter business..

stop getting scared and spreading fud from a media outlet who quotes a media outlet who quotes "someone".
read the source material.

its only illegal if your using it for guns, drugs porn etc. (no matter what currency it is)

its only illegal to create and exchange funds if your not a money transmitter.(no matter what currency it is)
the new rules are just expanding on the money transmitter laws to include bitcoin..

even exchanging 'payment cards' (pre-paid debit cards) is illegal without a money transmitter registration. so its not saying bitcoin is bad, its not saying visa debitcards are bad. its not even saying running a westernunion style business is bad.. but if you are not registered. then expect a fine if your an individual and expect a fine, ifyou a large corporation then expect big fine or jail time.

so register as a money transmitter.

and relax you wont be fined just for using bitcoin to buy a coffee

You must use a different interweb from the rest of us.

You can expect this from very left wing oriented countries. Such as Russia, Vietnam and very very maybe China. I wonder whether some Russian fellow coould translate the original propose to english so we could see how bad it is.

If it is true,most russian will sell their bitcoins in coming days.this can lead to bitcoin price fall also if Russian Government succeeded in implementing this law,other governments may follow the suit

Pretty cool country if you like alcoholism, AIDS, and no Bitcoin.

i'm not interesting about news like this,and i dont care if this true or not,i just believe that bitcoin still accepted in many country,and only Russia doing this,its not make me scary or sureprise,everything can happen.

Instead of them taking measurements to eliminate illegal activities that involve BTCitcoin, they went with overall solution even though they know it's going to have serious collateral damage. Russia is neighboring country from where I live and I personally have friends who have mining farms there and if this bill goes through (which it seems accepted) then a lot of innocent people will get punishment for a crime they never committed. There's a lot of crimes that are happening with rubles as payment but they don't do anything about it, and what's worst is that, they even hate US Dollars ($) and do trades with neighboring countries in local monetary trade system. So what I think is, just them doing all they can to have absolute power on anything that goes in and out in terms of expenditures (in a ugly way).

they are. the fines and jailtime are for certain groups who use bitcoin... wait for it.. FOR ILLEGAL ACTIVITIES.

its not saying that bitcoin itself is illegal, but if people are found out as scammer, drug pushers, arms dealer, kiddy fiddlers or money launderers .. there is a punishment for them.

these same rules also applies to other currencies like people on the blackmarket trading dollars without a registration, etc where the funds are used for illegal activities

the funny thing is that cryptocoin news is not quoting the real source but an mis-interpretation, from another news source.

i really wish these crappy media outlets actually bothered to include the real source.