Bitcoin Will Be Legal In Russia, Mining to Be Regulated
As Russian works on legislation on the trade of Bitcoin and other cryptocurrencies, there’s a possibility that mining could be criminalized. Not in the straightforward sense, according to deputy finance minister Aleksey Moiseev as quoted by RT : "The penalties will be different, mostly administrative, but if someone created the cryptocurrency for the purpose of settlements, then there will be a criminal punishment.” Moiseev confirmed that there would be criminal penalties for people who create pyramid schemes or cryptocurrencies in order to avoid paying tax. The ministry had hinted that miners would need to register with a central authority - allowing both companies and entrepreneurs to set up operations. Bitcoin will be legal in Russia As the state works on legislation, Moiseev stressed that buying and selling Bitcoin and other cryptocurrencies would be legalized. Just how long it will take for this new legislation to take effect is a matter of time, but it...
