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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Re:In Soviet Russia by Anonymous Coward · 2016-03-11 06:34 · Score: 4, Interesting

Also in Japan, Switzerland, Sweden, and Denmark. Also, the ECB. And probably coming soon to a country very near you.
Re:Of course bitcoin facilitates money laundering! by Coren22 · 2016-03-11 06:54 · Score: 4, Interesting

How do I take the money from my drug enterprise into bitcoin without any tracing back to me?
Is there a bank where I can walk up with $10 million and ask to convert it into bitcoin without the bank requiring ID?

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APK likes to ask for responses to the same things over and over. Maybe he just likes the responses?