Operations With Bitcoin in Russia Do Not Entail Punishment. Yet.
Russian authorities refused the idea of introducing punishment for transactions with Bitcoin. Endless discussions. For over two years Russian authorities could not make up their mind concerning the bizarre bitcoin. And now finally there might be some spark twinkling at the end of this tunnel as Russian authorities refused the idea of introducing punishment for transactions with bitcoin or other digital currencies. Earlier, the Ministry of Finance had suggested the introduction of imprisonment for a period up to four years for the use of a quasi-money, as Bitcoin and alike were labeled.....
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Russia and bitcoin aren't quite getting along at the moment, with the central bank of the country (CBR) issuing a warning on the use of the virtual currency. The statement, found here, warns of the usual perils one may encounter when getting involved (volatility, for example), and perhaps more alarming, that the use of bitcoin and other "money surrogates" are considered to be unlawful. According to the CBR, citizens "may become involved, including unintentionally, in illegal activity such as the [unintentional laundering] of criminal gains and financing terrorism." While punishment for the....
https://www.tradingview.com/chart/ajrdy9Lf/ With the Biden administration spearheading the enactment of economic sanctions against Russia for its invasion of Ukraine, the G7 (Group of Seven) countries are joining forces to assure its effectiveness. Russia is reportedly using cryptocurrencies to maintain access to foreign capital and to evade and offset the international “punishment.” Related Article | US Creates New […]
Russia and bitcoin have not exactly been on good terms. The country showed a particularly strict attitude towards the digital currency and was looking to enforce a ban that would threaten any users with heavy fines and other forms of punishment should they engage in the "pleasures of bitcoin." It appears that while on the playground, Russia had primary control over the sandbox. However, now that sandbox is possibly up for grabs. Following the Ruble's massive drop in value, the country seems to be reconsidering its approach to bitcoin and digital currencies, and the ban it was once aiming....
Payment processing is likely to become significantly more difficult, as card companies Paypal, Mastercard, and Visa have said that they will cease Russian operations in response to Russia’s attack on Ukraine. The three payment giants have now joined a growing list of global entities that have refused to do business with Russia as a result […]
The world’s leading payment processors Visa and Mastercard have joined sanctions against Russia over its military invasion of Ukraine. The American companies announced suspension of operations in the Russian Federation although Russians will be able to use their cards inside the country.
Card Payment Giants Visa and Mastercard Add to Pressure on Russia Over Ukraine War
Payment firms Visa and Mastercard are suspending operations in Russia as part of the international response to its decision to invade Ukraine. The U.S.-based financial services corporations revealed....