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Russia Bans Cryptocurrencies and Issues Fines? What's The Story? singapore
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Author Topic: Russia Bans Cryptocurrencies and Issues Fines? What's The Story?  (Read 1509 times)

2Kool4Skewl

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Why is Russia banning cryptocurrencies and fining users? 

Here are two articles talking about it:

Russia to Issue Ban and Fines for Cryptocurrency Use

Here Comes the Bribe: Why Russia (and Most Governments) Won't Try to Ban Bitcoin

It is my understanding that the Duma still has to approve this before it is made "law", is that true?  Maybe we could get some of our Russian users to explain the situation to us.

Is Russia really afraid of not being able to track transactions because of illegal use?  This seems like a flimsy argument because the #1 untraceable currency called "CASH" is legally mandated by governments.  I think that they are afraid of capital flight from their currency the Ruble.  Thoughts?
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cryptoscout

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Re: Russia Bans Cryptocurrencies and Issues Fines? What's The Story?
« Reply #1 on: October 05, 2014, 12:14:36 pm »

Crypto enables you to send money in and out of a country

Countries like Russia want money coming in and not going out.

China and India is the same it's easy to get money into the country but not so easy to get out

Why is Russia banning cryptocurrencies and fining users? 

Here are two articles talking about it:

Russia to Issue Ban and Fines for Cryptocurrency Use

Here Comes the Bribe: Why Russia (and Most Governments) Won't Try to Ban Bitcoin

It is my understanding that the Duma still has to approve this before it is made "law", is that true?  Maybe we could get some of our Russian users to explain the situation to us.

Is Russia really afraid of not being able to track transactions because of illegal use?  This seems like a flimsy argument because the #1 untraceable currency called "CASH" is legally mandated by governments.  I think that they are afraid of capital flight from their currency the Ruble.  Thoughts?
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nxtapple

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Re: Russia Bans Cryptocurrencies and Issues Fines? What's The Story?
« Reply #2 on: October 05, 2014, 01:43:45 pm »

Why is this happening in all of the baddie countries :D
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