Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa


Cryptocurrency Prohibition
March 27, 2016 16:02


(Soure: http://malobukoff.ru/finansy-i-dengi/kriptovalyuta-to-be-or-not.html)

The Ministry of Finance has developed amendments to the law “On the Central Bank” prohibiting the production and turnover of cryptocurrency. The agency has also developed amendments to the Code of Administrative Violations toughening the sanctions for the businesses for emission of cryptocurrency.

In accordance with the draft law of the Ministry of Finance, businesses-violators will face a fine of 3-5 million roubles or an administrative suspension of activity for up to 90 days. The initiative of the Finance Ministry is supported by Ministry of Economic Development, Federal Financial Monitoring Service, as well as lawyers and bankers.

“The official monetary unit (currency) of the Russian Federation is the rouble. One rouble is divided into 100 kopeckts” - the Ministry of Finance said in the refined Article 27 of the Law “On the Central Bank”. Production and carrying out of operations with money substitutes is forbidden, as it says. The Assistant of the Minister of Economic Development Aleksei Ulyukayev Elena Lashkina explained that the use of money substitutes was associated with a high level of risk, particularly in relation to insecurity of their assets, lack of single regulation of emission and legally obliged subjects in charge of them. The Finance Ministry has also prepared a bill introducing criminal liability for bitcoins.

The document is undergoing interagency coordination. In accordance with the bill, violators will face a fine of up to 500 thousand roubles or a prison term of up to four years for issue, purchase and sale of money substitutes. The members of an organized group will face a fine from 500 thousand to one million roubles or imprisonment for up to six years. Top managers of banks, insurance companies and other financial institutions and professional participants of the securities market can face a penalty from one million to 2.5 million roubles, and the maximum sentence will make up seven years in prison.


Sources: http://lenta.ru 


Author: Anna Dorozhkina

Tags: Cryptocurrency     

Next Previous

You might also find interesting:

Bank of Russia: Inflation in Russia will be Close to Zero Cars Of the Year 2017 Were Named In Russia Football: 2 Top Teams Launch Coach Reshuffles Weeks Before Season End Buzz Barometer: Brussels Poised to Disrupt Russia-Hungary Nuclear Deal - FT Winter Walk to Narzan Springs









Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

-8

search on the map
TAGS:
Archeology  Russian shops  Ruzaevka  Russian tourism  Human Rights Watch  Yury Vizbor  Rostov-on-Don  Vladimir Spivakov Invites  Narimanov  Moscow City Museum Association  Russian Nature  SSJ-100  Mikhail Bulgakov  Mercedes-Benz Fashion Week Russia  SmartWatch  Russian women  Project "Night in Metro"  Russian business  international cooperation  Russian universities  global exchange market  Censorship  Sculpture  Moscow  Tchebarkul  New Year celebrations  St. Petersburg  New Year holidays  fashion weeks  Memorial Estates in Saint Petersburg  Vologda region  Festivals  Murmansk Region  Exhibitions in Moscow  Yaya  Volgograd Region  Kind Moscow Festival  Russian Literature  Russian companies  North Caucasus  Kamchatka  Ulyanovsk Oblast  Advertising Constructions  Beastie Boys  Russian tourist destinations  Russian history  Russian Cinema  Freedom Award  Hit of the Season  Alexander Pushkin 


Travel Blogs
Top Traveling Sites