Russian payment processor OOOPay adopts Bitcoin payments

Many OOOPay customers asked the company to integrate Bitcoin payments sooner rather than later. Russia does not like Bitcoin, and government officials are considering to make Bitcoin activities punishable by law, whereas convicted users can face a jail sentence of up to seven years.

While the situation of Bitcoin in Russia remains very questionable there is a lot of positive focus on what blockchain technology can bring to the table. Russian officials want to be a part of the Fintech solution while also ensuring there is no way for people to launder money or use it for terrorist funding.

Bitcoin is a direct opposite of that in the eyes of most consumers and governments, though. When sending a Bitcoin transaction, there is no personal information included from either sender or recipient. However, these same people are mistaken in thinking that Bitcoin is anonymous, as it is possible to track transactions on the blockchain in real-time.