World Russian authorities say Bitcoin illegal

[The Helper]

MOSCOW (Reuters) - Russian authorities have issued warnings against using Bitcoin, saying the virtual currency could be used for money laundering or financing terrorism and that treating it as a parallel currency is illegal.

"Systems for anonymous payments and cyber currencies that have gained considerable circulation - including the most well-known, Bitcoin - are money substitutes and cannot be used by individuals or legal entities," the Russian Prosecutor General's Office said on February6.

It added that Russian law stipulates that the rouble is the sole official currency and that introducing any other monetary units or substitutes was illegal.

Russia's central bank also said on January 27 that Bitcoin trade was highly speculative and that the unit carried a big risk of losing value.

Russian authorities say Bitcoin illegal

Russian authorities have issued warnings against using Bitcoin, saying the virtual currency could be used for money laundering or financing terrorism and that treating it as a parallel currency is illegal. "Systems for anonymous payments and cyber currencies that have gained considerable...

news.yahoo.com

 

[FireCat]

LOL It doesn't go so well for the Bitcoin!

 

[The Helper]

LOL It doesn't go so well for the Bitcoin!

In Las Vegas though, a Casino company is taking Bitcoin as standard payment.

 

[Conor]

This just in - Russia declares it illegal to tell children about Bitcoins

 

[FireCat]

In Las Vegas though, a Casino company is taking Bitcoin as standard payment.

But they can't have Just Bitcoin as standard. Right?

 

[The Helper]

But they can't have Just Bitcoin as standard. Right?

I mean they accept Bitcoin along with Visa, MC, and other such things. It would be crazy to only accept Bitcoin because not enough people use it. It is a way to try and draw out the millions in Bitcoin that Coin Farmers are hoarding.