Russian Bitcoin Users Can Face Jail Time up to 15 years - page 7.

hilariousandco

global moderator

Activity: 3990

Merit: 2717

Join the world-leading crypto sportsbook NOW!

Quote from: Lauda on January 29, 2014, 03:08:18 PM

If I hold 1 BTC in my wallet, I can go to prison? I don't think so.
With that attitude, Russia will just stay behind everyone.

It seemingly is behind everyone with their homophobic laws and anti-gay stance. Pathetic behaviour.

Pangia

sr. member

Activity: 406

Merit: 250

Wonder what impact if any it will have on BTC-E. Don't think it will.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: meanig on January 29, 2014, 04:03:33 PM

Russian Ruble is toast. Withdraw all your Rubles and convert to bitcoins now!

that's a good call

meanig

hero member

Activity: 531

Merit: 501

Russian Ruble is toast. Withdraw all your Rubles and convert to bitcoins now!

MakeBelieve

hero member

Activity: 602

Merit: 500

Quote from: franky1 on January 29, 2014, 03:15:46 PM

this is the OP sniffing glue and not understanding the context of the article if he believes that bitcoin can land you in prison simply by owning it.

it has always been known, if you launder dollars, euro, pounds, yen. you will go to prison if caught. but now if you launder bitcoin because it is now treated as the same ranking as fiat, you will go to prison.

but if you use bitcoin legally, wisely and do nothing wrong. you can become legally rich.

this news article is not putting bitcoin into a bad category, it is putting the same rules on bitcoin as on any other countries fiat.

"The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement."

where as fiat of all governments ALREADY is used for laundering and terrorism funding

Great little speach if you don't do any thing illegal with Bitcoin you have nothing to worry about the same as fiat.

Trongersoll

hero member

Activity: 490

Merit: 501

I wonder how this impacts Bitfury. Huh

acoindr

legendary

Activity: 1050

Merit: 1002

Quote from: franky1 on January 29, 2014, 03:15:46 PM

this is the OP sniffing glue and not understanding the context of the article if he believes that bitcoin can land you in prison simply by owning it. ...

No, that's actually exactly the way it's intended to be interpreted:

Quote

The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement.

This means that Russian digital currency users can become involved in criminal activity simply by using the Bitcoin and its analogues, the regulator said.

This is meant to provide a clear chilling effect for Russians, ie, don't do this, we don't approve - you have been warned.

It is Russia.

franky1

legendary

Activity: 4410

Merit: 4766

this is the OP sniffing glue and not understanding the context of the article if he believes that bitcoin can land you in prison simply by owning it.

it has always been known, if you launder dollars, euro, pounds, yen. you will go to prison if caught. but now if you launder bitcoin because it is now treated as the same ranking as fiat, you will go to prison.

but if you use bitcoin legally, wisely and do nothing wrong. you can become legally rich.

this news article is not putting bitcoin into a bad category, it is putting the same rules on bitcoin as on any other countries fiat.

"The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement."

where as fiat of all governments ALREADY is used for laundering and terrorism funding

5thStreetResearch

full member

Activity: 126

Merit: 100

Quote from: Lauda on January 29, 2014, 03:08:18 PM

If I hold 1 BTC in my wallet, I can go to prison? I don't think so.
With that attitude, Russia will just stay behind everyone.

well it is Russia, but I dont think you wanna try their government

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

If I hold 1 BTC in my wallet, I can go to prison? I don't think so.
With that attitude, Russia will just stay behind everyone.

CryptoCurrencyInc.com

sr. member

Activity: 476

Merit: 250

Russia’s Central Bank: Bitcoin Users Can Face Jail Time

MOSCOW, January 27 (RIA Novosti) – Russia’s top monetary authority slammed digital currencies Monday, warning that Bitcoin use can lead to criminal charges in the country.

The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement.

This means that Russian digital currency users can become involved in criminal activity simply by using the Bitcoin and its analogues, the regulator said.

Digital currencies also lack any backing and are used for financial speculation, which increases risks for users, the Central Bank said.

Moreover, Russian legislation directly prohibits the issuance of surrogate currency, the statement said.

Money laundering is punishable with up to seven years in prison in Russia; funding terrorism – with up to 15 years. Russia’s legislation does not state a punishment for issuing surrogate currency.

http://en.ria.ru/business/20140127/186966541/Russias-Central-Bank-Bitcoin-Users-Can-Face-Jail-Time.html

Topic: Russian Bitcoin Users Can Face Jail Time up to 15 years - page 7. (Read 11558 times)