Post
Topic
Board Bitcoin Discussion
Re: Russian Law Would Send Bitcoin Users to Jail as Cybercriminals
by
yuriks2000
on 01/05/2016, 14:58:20 UTC
http://www.bloomberg.com/news/articles/2016-04-28/russian-law-would-send-bitcoin-users-to-jail-as-cybercriminals

Quote
Russia is planning to punish users of cryptocurrencies such as bitcoin, saying anonymous, difficult to trace transactions help kidnappers and money launderers.

The Finance Ministry in Moscow plans to submit legislation next month that would punish those who use digital currencies with fines as high as 2.5 million rubles ($38,000) and jail sentences of up to seven years. As opponents criticize such regulations as futile in the face of the growing popularity of bitcoin, Russia joins countries including Bolivia, Iceland and Vietnam in taking steps to criminalize it.

“Bitcoin can be used to finance the shadow economy and crimes, and this risk we cannot allow in the Russia’s financial system, which we are striving to make transparent and healthy,” the press service of the central bank said in an e-mail.
But the usage of bitcoin is anonymous , how will their government know that their particular citizen is adopting bitcoin and doing transactions and other payments with it? I don’t thisk that they will send to jail any of them.

Bitcoin is not very anonymous. There are even websites that will link many bitcoin addresses to one address (https://blockexplorer.com/) and if you once purchased bitcoin using your Credit Card or ID it can be very easily traced.