Russia Intends to Ban All Cryptocurrencies

1
While other countries are embracing cryptocurrencies, Russia does not just plan to ban them, it plans to criminalize them! The new legislation defines cryptocurrencies as properties and bans their circulation and issuance on Russian territory.
Once the proposed legislation is signed into law it individuals and organizations will be prohibited with operate with any cryptocurrency, including processing payments for goods and services.
People who break the law will be fined between 50k rubles ($700 on average) to 500k rubles ($7 000). Organizations that do the same can be fined up to 2 million rubles or $28K. But that is not all – Russian authorities can imprison people up to 7 years depending on the size of the illegal operation and the damage they think it has caused the Russian financial system.
Frankly, that is ridiculous and it will do more harm than good.


Re: Russia Intends to Ban All Cryptocurrencies

2
mlawson71 wrote: Wed May 27, 2020 10:25 pm While other countries are embracing cryptocurrencies, Russia does not just plan to ban them, it plans to criminalize them! The new legislation defines cryptocurrencies as properties and bans their circulation and issuance on Russian territory.
Once the proposed legislation is signed into law it individuals and organizations will be prohibited with operate with any cryptocurrency, including processing payments for goods and services.
People who break the law will be fined between 50k rubles ($700 on average) to 500k rubles ($7 000). Organizations that do the same can be fined up to 2 million rubles or $28K. But that is not all – Russian authorities can imprison people up to 7 years depending on the size of the illegal operation and the damage they think it has caused the Russian financial system.
Frankly, that is ridiculous and it will do more harm than good.
The sad thing, that if they do that rule it will be totally violating Russian constitution, and it is having the master power of the law out there and nothing can be against it, even it self cant contradict it first part. Where it says, in Russia free economic activity is guaranteed, and that it is prohibited to make any barriers for free movement of finances, services and goods. And there is a lot more laws in Russia already violating its constitution, and to be honest I was trying to do something about it, was messaging president, constitutional court, even when I realized that court doesn't accept me , and refuses , as they say only president and some other government workers, can apply to check if any law is violating constitution. That part is also from constitution, but from the part describing court. And I was telling them that it cant be against first part, where it says human rights are highest priority and in human rights part it says that all ( not all people as I saw in English version of constitution) but everything is equal for the court and for the law. And they cant tell me that someone or something is able to apply for court besides me.
And when I realized that president doesn't want to help, and court is violating my rights, I went to European human rights court. They refused to accept, they told me that I should apply one more time with more structured or something, I don't really remember, don't have theirs letter near me....

Just wanted to share my emotions....
Sincerely,
Sergei

Re: Russia Intends to Ban All Cryptocurrencies

4
mlawson71 wrote: Thu May 28, 2020 11:42 pm I am so sorry you have to deal with all of this!
Thank for understanding me!!!

Anyway I will not continue to set the rule of law out here, and wont keep trying to put in to work government...

I hope some day I move out of here... but still will be aware.. because if that kind of unlawful chaos is going on national scale, and its territory is 1/6 of the earth with population 144 mln ... probably there is no such a good place on the planet... that wont be affected....

I wish this planet a peaceful present and off course the future!!!
p.s. And I wish if history was also more peaceful!!!
_________________________________

Happy trading mlawson71 and everyone!!! ;)
Sincerely,
Sergei





Who is online

Users browsing this forum: No registered users and 22 guests