Russia Bans Bitcoin

Posted by samzenpus on Friday February 7, 2014 @01:02AM from the no-coins-for-you dept.

mask.of.sanity writes "Russia has banned digital currency Bitcoin under existing laws and dubbed use of the crypto-currency as 'suspicious'. The Central Bank of Russia considers Bitcoin as a form of 'money substitute' or 'money surrogate' (statement in Russian) which is restricted under Russian law. However, unlike use of restricted foreign currencies, Bitcoin has been outright banned. The US Library of Congress has issued a report examining the regulatory approaches national financial authorities have taken to the currency."

1 of 207 comments (clear)