Goodbye bitcoin? Ministry of Finance and Ministry of Economic Development approved two “repressive” draft laws on cryptocurrency
“They first said that cryptocurrency cannot be issued, then they said that they cannot be bought, and now they say that those who are trying to buy them are going to jail. If this passes, then we understand that all progress will go beyond the borders of the Russian Federation, ”- German Gref, head of Sberbank.
The Ministry of Economic Development and the Ministry of Finance approved two bills on cryptocurrency in Russia. The first of these bills, No. 18934 , was introduced in 2014. It provides for administrative responsibility for transactions with "money substitutes." Responsibility is provided for all operations, including mining, the purchase and sale of cryptocurrency, the dissemination of information about the use of so-called "cash surrogates" as a means of payment or exchange of cryptocurrencies for ordinary money. This bill provides for a fine for legal entities in the amount of 3-5 million rubles for a crypt-currency turnover.
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For the remaining articles, liability is established by the second bill, No. 46853 . Here we are talking not about administrative, but about criminal responsibility, writes "Roskomsvoboda". Thus, a person issuing a cryptocurrency, selling or buying a “money surrogate” can be punished with a prison term of up to 4 years. If this person is the head of a financial organization, the period is extended to seven years.
The authors of the draft law consider that “... the possibility of anonymity and uncontrollability of national authorities attracts shadow economic turnover to surrogates. Due to the anonymity of the purse owners, the so-called monetary surrogates gained popularity when they bought illegal goods, legalizing (laundering) criminal proceeds. The use of monetary surrogates as a means of payment and accumulation may entail a violation of the rights of conscientious persons involved in their turnover, because holders of “monetary surrogates”, because of their anonymity and virtuality, are deprived of the opportunity to protect their interests in a judicial and (or) administrative manner. ”
As far as can be judged, both bills will go to the Duma in parallel. If at least one bill is passed, it will be possible to say goodbye to bitcoins and other “money substitutes” in Russia.
The Ministry of Economic Development and the Ministry of Finance approved two bills on cryptocurrency in Russia. The first of these bills, No. 18934 , was introduced in 2014. It provides for administrative responsibility for transactions with "money substitutes." Responsibility is provided for all operations, including mining, the purchase and sale of cryptocurrency, the dissemination of information about the use of so-called "cash surrogates" as a means of payment or exchange of cryptocurrencies for ordinary money. This bill provides for a fine for legal entities in the amount of 3-5 million rubles for a crypt-currency turnover.
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For the remaining articles, liability is established by the second bill, No. 46853 . Here we are talking not about administrative, but about criminal responsibility, writes "Roskomsvoboda". Thus, a person issuing a cryptocurrency, selling or buying a “money surrogate” can be punished with a prison term of up to 4 years. If this person is the head of a financial organization, the period is extended to seven years.
The authors of the draft law consider that “... the possibility of anonymity and uncontrollability of national authorities attracts shadow economic turnover to surrogates. Due to the anonymity of the purse owners, the so-called monetary surrogates gained popularity when they bought illegal goods, legalizing (laundering) criminal proceeds. The use of monetary surrogates as a means of payment and accumulation may entail a violation of the rights of conscientious persons involved in their turnover, because holders of “monetary surrogates”, because of their anonymity and virtuality, are deprived of the opportunity to protect their interests in a judicial and (or) administrative manner. ”
As far as can be judged, both bills will go to the Duma in parallel. If at least one bill is passed, it will be possible to say goodbye to bitcoins and other “money substitutes” in Russia.
Source: https://habr.com/ru/post/372275/
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