Russian Minister Confirms Plans to Ban Bitcoin-to-Fiat Conversions

By October 28, 2015Bitcoin Business

russia finance ministry Russia’s Deputy Finance Minister has confirmed the country’s plans to penalise the conversion of cryptocurrencies such as bitcoin into the ruble.

Speaking to CoinDesk, Alexey Moiseev said a proposed draft law has been created and, if passed, would mean people engaging in crypto-to-fiat conversions would face up to four years in prison.

He explained: "It’s true that we have developed draft law which provides up to four years in prison for some types […]

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