Russia postponed indefinitely on bitcoin draft

Russia postponed indefinitely on bitcoin draft

    

Russian Federation deputy finance minister AlexeiMoiseev said recently, bitcoin in Russia should not spread as a threat to their own financial ecosystem existence. Therefore, no plan of electronic money development should stop encryption.

AlexeiMoiseev, Russia’s deputy finance minister has banned bitcoin in Russia in 2014, but now I think electronic encryption currency would not pose a threat to the financial system of russia.

At that time, Moiseev believes that bitcoin and “copycat money” is a kind of “instead of money” – electronic encryption currency, also pointed out that, through the establishment of a law prohibiting bitcoin circulation in 2014 or 2015. But the law did not get through.

In a recent SputnikNews report, Moiseev told reporters:

“All bitcoin or similar ‘bitcoin’ electronic encryption currency would not cause too much of a threat to the public, because they are not instances of large-scale use, so now is not to threaten our financial system.”

Then he added, “in the future, it may bring a lot of problems, because it is not regulated.”

But the chairman of the Russian investigation committee Alexander Bastrykin (AlexanderBastrykin) said that bitcoin is the real threat to financial stability can exist”. The Russian authorities said the spread of bitcoin transactions’ agents’ should be curbed.

Moiseev and the Ministry of Finance and the initial implementation of a bitcoin users will be up to imprisonment for 4 years but then the draft, the Ministry has according to the criminal law and bitcoin characteristics, proposed a two-year “labor reform” of the draft.

However, the Ministry of finance to further amend the bill from March 2016, if the establishment of the Russian bitcoin company will face up to 7 years in prison and fines.

But the Justice Department and the Russian Ministry of internal affairs is to act in a “public hazard” have been questioned, and in the subsequent rejection of the Ministry of Finance submitted on bitcoin bill.

The denial and friction of the Ministry of Finance seems to be a wake-up call, Moiseev said recently, the Ministry of finance will suspend bitcoin and other encryption currency ban, he said at last:

“We want to quietly watch the situation now, to deal with all kinds of possible cases.”

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