Bitcoin–clad currencies are officially forbidden in Russia

Monday 6 October 2014 14:52 CET | News

The Russian Ministry of Finance has passed verdict on a cryptocurrency bill which bans their use within the country’s borders, reports.

Moreover, the government has made it clear that cryptocurrency users will be charged with heavy fines should they continue the use, creation and distribution of “money surrogates” like Bitcoin or Litecoin.

In recent news, PayPal has entered into agreements with Bitcoin payment processors BitPay, Coinbase and GoCoin.

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Keywords: Bitcoin, digital currencies, virtual currencies, cryptocurrency, ban, prohibition, bill, regulation, Russia
Categories: DeFi & Crypto & Web3
Countries: World
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DeFi & Crypto & Web3

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