Post
Topic
Board Exchanges
Re: Yobit to shut down May 24! Withdraw your funds!
by
onlinedragon
on 17/05/2016, 16:29:05 UTC
In other topic I found this news.
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.
Thought that Yobit was also located in Russia wonder how they will handle this. I don't say that they will shutdown because of this but atleast they have to anticipate to change there working location. Maybe someone else know more about what will happen when Russia start punishing people.