Russian Bitcoin Issuers Will Risk 7 Years In Prison (thestack.com)

Posted by timothy on Friday March 11, 2016 @06:21AM from the what's-your-theory-of-the-state? dept.

An anonymous reader writes: The Russian Ministry of Finance has announced an amendment to the country's criminal code which will impose prison sentences of up to seven years for the issuing of Bitcoin or other cryptocurrencies. A government source speaking to Interfax (Russian) said that the maximum prison sentence for individuals found issuing cryptocurrencies would be 2-4 years, and/or up to three years' worth of salary or income, whilst managers of dispensing institutions could face seven years in prison, up to four years of income equivalent in fines, and a lifetime ban from similar posts. Russia announced the ban on Bitcoin or other 'money surrogates' in February of 2014, asserting that cryptocurrencies facilitate money-laundering and other criminal activity.

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Capital flight is for Oligarchs only by Anonymous Coward · 2016-03-11 06:26 · Score: 1, Funny

You dirty commoners get to stew while our economy craters!
In Soviet Russia by idbeholda · 2016-03-11 06:28 · Score: 4, Funny

The bank robs you.
Bitcoin doesn't clean very well. by sims+2 · 2016-03-11 08:25 · Score: 3, Funny

I always use Tide when I launder my money. http://nymag.com/news/features...
Leaves it with a nice fresh scent too!

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