Tuesday, January 28, 2014

Russia’s Central Bank: Bitcoin Users Can Face Jail Time

Oh yeah, Bitcoin is going to do real well as an above ground e-currency in Russia.

Via RIA Novosti:
 Russia’s top monetary authority slammed digital currencies Monday, warning that Bitcoin use can lead to criminal charges in the country.

The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement.

This means that Russian digital currency users can become involved in criminal activity simply by using the Bitcoin and its analogues, the regulator said[...]

Moreover, Russian legislation directly prohibits the issuance of surrogate currency, the statement said.


  1. In Russia, a few years ago, dollar users faced jail time.

  2. Were those dollars... ANONYMOUS?


    Bitcoin ain't. Don't worry though, something better will come along and fix that problem.