Using Bitcoins Will Not be Criminally Liable In Russia

Prime Ministry of Finance will finalize the bill on cryptocurrency; likely to criminalize the use of Bitcoins he will not, told reporters Deputy Finance Minister Alexei Moiseev.

At present, Russian law prohibits the release of money surrogates in the Russian Federation, together with the responsibility for failure to comply with the ban has not been established.

In this regard, the Ministry of Finance is developing a draft law on punishment for the use of Bitcoins and other cryptocurrency in the Russian Federation, as the only national currency in the country is the ruble. The current edition of the bill involves the criminal liability of heads of banks for a period of up to seven years for violation of the law. Chairman of the Investigative Committee of Russia Alexander Bastrykin also previously advocated the maintenance of the criminal liability for the publication and circulation of money substitutes, such as Bitcoin.

"The bill is ready, but we are with him will not be in a hurry, and, most likely, it will be modified. Now I want to hold a meeting of experts and to think again about what we still need to do. I guess, of course, with the development of technologies such frontal ban is not very correct, "- said Moses, answering the question of whether the bill is ready, and if it is a criminal offense. Earlier, Moses said that a bill on Bitcoin is planned to introduce to the State Duma by the end of 2016.

He noted that it is necessary as much as possible to limit the freedom "for the crooks to use Bitcoin for transactions related to illegal transactions and money laundering."

The head of the Central Bank Elvira Nabiullina September 2015 stated that the regulator sees risks in using cryptocurrency, in particular, carrying out suspicious transactions. However, the head of the Central Bank noted that kriptotehnologii regulator is ready to study and consider the possibility of their use in payment systems, data storage, recognizing their usefulness. In particular, the Russian authorities want to develop blockchain technology that is needed to store data.

"We see even European official sources, that according to their data, about 80% of all suspicious transactions related to this type of things - such as racketeering, money and so on -. They pass through Bitcoin course we can not forget in any case about the financing of terrorism, it follows from this, simply right away, "- said Deputy Finance Minister.

At the same time, according to him, in the course of work on the bill is necessary to ensure the maintenance of the Central Bank's position as a single emission center.

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