Russia Mulls Law Restricting Bitcoin’s Use as Money

A top official in the Russian finance ministry has indicated that Russia is set to pass a law, likely as early as next spring, restricting the use of Bitcoin as tender or money, reports Russia Today. If passed, Russia will become the third country in the world to effectively pass a law banning Bitcoin, after Bolivia and Ecuador.
According to Deputy Finance Minister Aleksey Moiseev,
People can play with their chips, and they can call them money, but they can’t use these surrogate currencies as tender. We will discuss this law in the current session of parliament, and possibly even pass it then, or at the very latest by spring next year. We are currently dealing with comments from the law enforcement agencies, about the specifics of legal measures, and we will take their remarks into account. But the overall concept of the law is set in stone

This post was published at Coin Setter on 15 Sep 2014.

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