RATE Group | New law foresees total ban of Bitcoin and cryptocurrencies
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New law foresees total ban of Bitcoin and cryptocurrencies

25 May New law foresees total ban of Bitcoin and cryptocurrencies

Posted at 12:06h in Cryptocurrency News by

  • A new draft law in Russia would ban the purchase of Bitcoin and other cryptocurrencies.
  • According to a prominent lawyer, the new law could throw an crypto ‘Iron-Curtain’ over Russia and paralyze interaction on the global digital stage.

Worldwide laws governing the trade and safekeeping of Bitcoin and cryptocurrencies continue to differ widely. Supposed paradises for blockchain companies, such as Switzerland or Malta, are considered to be the first port of call with favorable location conditions. Russia has so far remained neutral, but a new draft law could severely restrict trade in cryptocurrencies.

Russia discusses tougher measures and possible ban on Bitcoin

The Russian news portal RBC reports that a group of MPs has presented a bill to the Russian parliament that would virtually ban the trade and use of cryptocurrencies. Administrative and criminal liability is envisaged for violations of this new law. In the first part of the law, the illegal trade in cryptocurrencies as well…

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