Russian Investigator Latest to Support Proposed Bitcoin Ban
The chairman of Russia's Investigative Committee, Alexander Bastrykin, has said “money substitutes” including bitcoin should be banned before they reach widespread use in the country. Speaking with Rossiyskaya Gazeta last week, Bastrykin warned of the lack of central control and relative anonymity provided by cryptocurrencies such as bitcoin. The latter, he indicated, is a motive for various crimes, including drug and arms trafficking, terrorist financing and tax evasion. Citing data from the Prosecutor General's Office, Bastrykin said illegal payments in “virtual currencies” had helped....
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The central bank’s push for a restrictive policy regarding cryptocurrencies is not gaining support among members of the Russian government, legislature, or law enforcement. A blanket crypto ban, as proposed by the bank, would make a laughingstock of Russia, lawmakers have warned. Bank of Russia’s Hardline Stance on Crypto Rejected by Other Russian Institutions The Central Bank of Russia’s lobbying for prohibitive legislation on cryptocurrencies has not been met with understanding by other government bodies, Russian media revealed. Last week, the regulator published a....
Since the middle of the last year, the Russian government has been discussing the possible ban and criminalization of digital currency. Some Bitcoin related sites have even been blocked in a move that forced many of the Bitcoin Russian startups to close or go overseas. Last week, Russian courts overturned the ruling about blocking sites. Russian telecommunications regulator Roskomnadzor banned access to bitcoin payment systems in January this year by ordering internet service providers to restrict access to certain sites such as Bitcoin.org, Coinspot.ru and BTCSec.com, according to Gigaom.....
The Russian government is considering a proposed project to mine crypto using Associated Petroleum Gas (APG). Local oil and gas companies in Russia want to operate crypto mining farms on their oil rigs using APG to generate power. Deputy head of Russia’s Ministry of Industry and Trade, Vasiliy Shpak, presented the proposal to the Ministry […]
Russia has proposed a new anti-terrorism legislation that may lay the foundation to restrict internet liberties in Russia. One particular part of the new legislation can seriously hurt cryptocurrencies like Bitcoin. We got an email today explaining it: Officially it (the new legislation) is aimed at preventing terrorism funding, but it is probably the result of the wide use of“electronic” money transfers for support of political opposition in the recent years. It is proposed to punish (with large fines and imprisonment) all anonymous “electronic” money transfers through the border. Since....
The Ministry of Justice and the Interior Ministry in Russia have – according to reports – questioned the “public danger” that Bitcoin supposedly brings, as proposed by the Russian Ministry of Finance. Unsubstantiated reports from Russian news outlets quoting prominent Russian news agency Interfax have revealed voices in the Ministry of Justice and the Interior Ministry to question and even oppose the Russian Finance Ministry’s proposal for a bitcoin banning bill. A source from “the financial and economic block” of the government has reportedly told Interfax that the Ministry of Justice....