Russian Ministry Proposes Correctional Labor Penalty for Bitcoin Crimes
Russia's Ministry of Finance has developed a new version of its proposed law that would seek to both outlaw and apply criminal penalties for activities involving digital currencies, according to a report by Russian news source Interfax. Citing sources from within the Russian government, Interfax reports that acquiring, selling and distributing cryptocurrencies would be punishable with fines of 300,000 rubles ($4,574) or through up to 360 hours of correctional labor under the new bill. Should such infractions be committed by an agency or group, the fines for such activities would increase....
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The Russian Ministry of Finance is preparing a “brilliant” bill that will make all Russian Bitcoin businessmen, users, journalists, developers and miners equal to terrorists — starting in 2016. If lawmakers approve the bill, how will the Russian community react to such a grotesque move? At the end of September 2015, the Russian Ministry of Finance....
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