Topic: Russia central bank bans Bitcoin (Read 14381 times)

Pussy ...

"If any company that decides to accept Bitcoins as a means of payment against its leaders can initiate criminal proceedings under Art. 174 of the Criminal Code ("Legalization of money or other property acquired by other persons in a criminal way." - RBC daily) », - said the source. Will collect information FSB and the Interior Ministry.

http://rbcdaily.ru/finance/562949990487034

Good thing then that there's the good ole U S of A that needs to buy those natural resources like a "real industrialized economy" in order to run that fleet of mobility scooters to move around their population of morbidly obese people inside Walmart, huh ^__^

It's amazing how the Rooskies keep trying to re-lose a cold war they already lost. Held up our Olympic team's yogurt at customs. Country run by a short bald guy who plays Karate and rides horses bare-chested. Their whole economy is based off of selling their natural resources to real industrialized economies. And that's the improved Russia!

It's amazing how the Rooskies keep trying to re-lose a cold war they already lost. Held up our Olympic team's yogurt at customs. Country run by a short bald guy who plays Karate and rides horses bare-chested. Their whole economy is based off of selling their natural resources to real industrialized economies. And that's the improved Russia!

"If any company that decides to accept Bitcoins as a means of payment against its leaders can initiate criminal proceedings under Art. 174 of the Criminal Code ("Legalization of money or other property acquired by other persons in a criminal way." - RBC daily) », - said the source. Will collect information FSB and the Interior Ministry.

http://rbcdaily.ru/finance/562949990487034

A Bank has got the power to ban something, is the Bank above the Law?

A Bank has got the power to ban something, is the Bank above the Law?

A Bank has got the power to ban something, is the Bank above the Law?

How do we know Bitcoin is not an illuminati project, a wolf dressed as sheep?

Why would China and Russia trust an Anglo-American NSA spy coin.. Who the fuck is Satoshi Nakamoto? Think about it..

The biggest problem is that mining in Russia might be not legal now, as that's the only thing we could call currency emission here.

MOSCOW — Russian regulators have cancelled the licence of AKB Novokuznetsk Municipal Bank (NMB), saying that the Siberian lender made high-risk loans and allowed its owners to borrow from the company.

The Russian central bank said in a statement on its website on Thursday that NMB was running "a high-risk credit policy" and not adequately creating reserves for possible loan losses. The bank, which was among Russia’s top 300 lenders by assets as of last month, did not fulfil its obligations to creditors and depositors because of insufficient cash flow, the regulator said.

NMB said depositors with as much as 700,000 rubles ($21,000) are entitled to a full reimbursement from the Deposit Insurance Agency.

Payments would begin by January 23, the agency said on its website. NMB’s press office did not respond to calls seeking further comment.

The regulator has accelerated its crackdown since November 29 when it revoked the licence of Master Bank, Russia’s 41st largest lender by assets, for money-laundering violations. Midsize lenders Project Financing Bank and Smolensky Bank were also shuttered on December 13, and Investbank was closed after failing capital adequacy reviews.

The central bank has revoked about 30 banking licences since July 1 when Elvira Nabiullina succeeded Sergey Ignatiev as governor, compared with three in the first half of the year. She is striving to tighten regulation of banks and curtail net capital outflow, forecast at about $55bn last year.

NMB, which focused on the Kemerovo region of Siberia, was set up in 1994 and provides services to firms and individuals, according to its website.

An unidentified NMB director is being probed for allegedly transferring cash from the bank to other lenders in Russia to repay debts, according to a statement on Thursday by the Russian Investigative Committee. This had resulted in depriving the bank of sufficient reserves to cover its clients’ loans, according to the statement.

How do we know Bitcoin is not an illuminati project, a wolf dressed as sheep?

does it matter? maths doesnt lie, nobody controls BTC, maybe the illuminati have some, if they in fact exist, I bet they have some gold and dollars and pounds too.

THis means that Russia has joined China in accumulating bitcoins!... yea people dont buy any... let me buy them all up and then when I say you can use them!

Whatever these headlines say.. usually the hidden agenda is the OPPOSITE of what they mean literally.

How do we know Bitcoin is not an illuminati project, a wolf dressed as sheep?

Bank of Russia is just another Central Bank llluminati style like all the Rothchild Central Banks around the world - except in Iran, N-Korea, Syria, Libya, Iraq, … oops, cancel the last two.

No particular news here. Another head of the same beast.

In short: Central Bank of Russia prohibits any (really any) usage of Bitcoin and will treat it as criminal activity and terrorism support.

How is Keiser going to report this news 

How is Keiser going to report this news 

In Russia any warnings from government are permanently treated as law. Nobody wants to play games with mr. Putin here.

Exactly.

Bitcoin is a homosexual conspiracy. The blockchain turns Russian children into gay lords overnight. A ban was always going to happen.

In Russia any warnings from government are permanently treated as law. Nobody wants to play games with mr. Putin here.

Yes, this is why all homosexuals IMMEDIATELY stopped having buttsecks when Mr. Putin's government began warning about the dangers of homosexuality.

There is absolutely NO buttsecks in Russia right now, just like there is no bitcoins.

Yes, this is why all homosexuals IMMEDIATELY stopped having buttsecks when Mr. Putin's government began warning about the dangers of homosexuality.

There is absolutely NO buttsecks in Russia right now, just like there is no bitcoins.

In Russia any warnings from government are permanently treated as law. Nobody wants to play games with mr. Putin here.

In Russia any warnings from government are permanently treated as law. Nobody wants to play games with mr. Putin here.

Bitcoin is a homosexual conspiracy. The blockchain turns Russian children into gay lords overnight. A ban was always going to happen.

Additionally, the article mentions concerns that Bitcoin is anonymous. Someone needs to educate the general public that Bitcoin is in effect less anonymous than fiat.

Governments would hate their own spending to be tracked.

Additionally, the article mentions concerns that Bitcoin is anonymous. Someone needs to educate the general public that Bitcoin is in effect less anonymous than fiat. You never know where that bank note was before it ended up in your hands, yet most Bitcoin transactions can be traced back and, with sufficient data analysis, grouped to be attributed to persons or organisations. Governments should love them... or not?

Yes, I would say so. It is impossible to move gold out of Russia. Moving anything else out is a lot of hassle, and requires extensive paperwork. Ruble is dropping - looks like the Olympics and preparations for protests drained the finances significantly. There are some rumors they are looking to ban foreign currency accounts, and further restrict the usage of centralized virtual currencies. They are putting further restrictions on internet trade. Under these almost Argentina-like conditions, it makes sense to convert at least some savings to Bitcoin, and explore the options for a second passport. Bullish.

All these banana republics like Russia and China are ruining all the fun.

Bitcoin should have staid mainly a Western thing.

it is a validation of bitcoin as a means of value transfer that the governments are afraid of, i.e. bullish.

elsewhere

Metabank.ru tho was registered in Russia and got closed today.

Is BTC-e registered in Russia or elsewhere?

Is BTC-e registered in Russia or elsewhere?

Not ban at all, it's even less than China did.

The biggest problem is that mining in Russia might be not legal now, as that's the only thing we could call currency emission here.

In mother Russia, they are the government.

Oligarchs didn't become Oligarchs by listening to the government.

That would never be a problem, if they would somehow even attemp to pursue this angle - it would never be enforced and nobody would ever give a fuck. Trust me.

In short: Central Bank of Russia prohibits any (really any) usage of Bitcoin and will treat it as criminal activity and terrorism support.

Private bitcoiners ignore them, but institutional investors listen and follow.. especially when it is from their local jurisdiction.

There goes all the rusky oligarch money.

Yep. I can confirm this translation is more or less accurate. Except it's not "whitewashing of funds", it's "money laundering"

Another one of those warnings? How many times can they issue a warning before people start completely ignoring them?

Not ban at all, it's even less than China did.

The biggest problem is that mining in Russia might be not legal now, as that's the only thing we could call currency emission here.

"The Central bank will deem any services concerning exchange of virtual currencies into Rubbles as a potential involvement in handling of suspicious activities in accordance to the law against whitewashing of funds acquired by criminal means and finance of terrorist organisations. The following warning was issued by CB towards the Russian legal entities."
"Virtual currencies lack in supporting and responsible for them legal bodies. Operations bear a speculative character, are processed on the so-called virtual exchanges and carry with them a high risk of loosing in value."
"CB warns citizens and legal entities, first and foremost the credit institutions and non-credit financial institutions from using virtual currencies for exchanging them into goods (work, services) and for monetary mediums as Russian, so foreign."

In short: Central Bank of Russia prohibits any (really any) usage of Bitcoin and will treat it as criminal activity and terrorism support.

From RBC source:

Согласно ст.27 федерального закона "О Центральном банке Российской Федерации (Банке России)" выпуск на территории РФ денежных суррогатов запрещается.

According to paragraph 27 of Federal law "About Central bank of Russian Federation", emission of money surrogates is prohibited on territory of RF.

Not a ban, just a usuall "warning" bla-bla-bla volatility bla-bla-bla stay away from it.

Information

On the use in transactions "virtual currency ", in particular , Bitcoin


The Bank of Russia said that recently in the world have a certain distribution of the so -called "virtual currency " , in particular, Bitcoin . By "virtual currencies " and there is no provision for them legally obliged entities . These operations are speculative in nature, carried out on the so -called "virtual exchanges " and carry a high risk of loss of value.

The Bank of Russia warns citizens and legal entities , primarily credit institutions and non-credit financial institutions , the use of "virtual currency " for them in exchange for goods ( works, services) or cash in rubles and foreign currency.

According to article 27 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia ) " issue in the Russian Federation monetary surrogates prohibited.

Due to the anonymous nature of the activity for the production of "virtual currency " unlimited range of actors and to use them for transactions citizens and legal persons may be , including unintentionally involved in illegal activities , including the legalization (laundering ) of proceeds from crime and terrorist financing .

The Bank of Russia has warned that Russian legal entities providing services for the exchange of "virtual currency " in rubles and foreign currency , as well as for goods (works , services ) will be considered as a potential involvement in the implementation of suspicious transactions in accordance with the legislation on counteraction to legalization (laundering ) proceeds of crime and financing of terrorism.

January 27, 2014

Using materials reference to the press service of the Bank of Russia is required .