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Russia Bans Bitcoin

Posted by samzenpus on 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."

3 of 207 comments (clear)

  1. Which, of course, really means... by Anonymous Coward · · Score: 5, Funny

    ...if they catch you running an illegal operation using Bitcoins, the necessary bribe to the authorities just got bigger.

  2. What would Ronald Raegan do? by Nightbrood · · Score: 5, Funny

    I believe he would say, "Mr. Gorbachev tear down this beta."

    #IamSlashdot

  3. Positive effect of Beta by jbeaupre · · Score: 5, Funny

    There is a serious benefit of Beta you are all ignoring. Productivity around the world is increasing due to people preferring to work instead of reading Slashdot.

    --
    The world is made by those who show up for the job.