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VladRussian2 | 12 years ago

" В соответствии со ст. 27 Федерального закона «О Центральном банке Российской Федерации» «официальной денежной единицей (валютой) Российской Федерации является рубль. Введение на территории России других денежных единиц и выпуск денежных суррогатов запрещается». Получившие определенное распространение анонимные платежные системы и криптовалюты, в том числе наиболее известная из них – Биткойн, являются денежными суррогатами и не могут быть использованы гражданами и юридическими лицами. "

translation:

"According to the title 27 of the Federal Law "On Central Bank of Russian Federation" "the official currency of Russian Federation is rouble. Issue (introduction) of other currencies and currency surrogates on the territory of Russia is prohibited". Anonymous payment systems and cryptocurrencies, including the most popular - Bitcoin, are currency surrogates and can't be used by physical persons and corporations. "

This determination - bitcoin as a currency surrogate - was made by the "expert group" consisting of high level bureaucrats from the enforcement side, ie. Central Bank, FSB, police (police in Russia is one big vertically integrated structure from local to federal level), Attorney General office.

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usaphp|12 years ago

> "the official currency of Russian Federation is rouble, Issue (introduction) of other currencies and currency surrogates is prohibited

How is that different from any other country? Its a generic law that every other country has, you can't start spreading a new currency in United States as well because "official currency of United States is US Dollar".

We all know what happened to a "Liberty Dollar" in United States [1]:

In 2006 the U.S. Mint issued a press release stating that prosecutors at the Justice Department had determined that using Liberty Dollars as circulating money is a federal crime. The press release also stated that the "Liberty Dollars" are meant to compete with the circulating coinage (currency) of the United States and such competition consequently is a criminal act.[2]

[1]: http://en.wikipedia.org/wiki/Liberty_Dollar#Federal_Governme...

[2]: http://www.usmint.gov/pressroom/index.cfm?flash=yes&action=p...

waterlesscloud|12 years ago

You're ignoring the relevant part that is quite different from how most countries have thus far ruled on bitcoin-

"Anonymous payment systems and cryptocurrencies, including the most popular - Bitcoin, are currency surrogates and can't be used by physical persons and corporations."

ripter|12 years ago

I thought you could spread a new currency in the US, but no one has to accept anything other than the official US currency. Which was the reason why things like tokens and bitcoins can exist.

VladRussian2|12 years ago

the difference is that Eric Holder hasn't yet made a determination that Bitcoin is a currency and thus violates the law (like they did to Liberty Dollar, etc...)

mappu|12 years ago

How do other foreign currencies compare to bitcoin with respect to this paragraph? Surely that doesn't mean it's correspondingly illegal to trade RUB for USD within russia, but i'm not sure what the salient difference is

VladRussian2|12 years ago

>Surely that doesn't mean it's correspondingly illegal to trade RUB for USD within russia, but i'm not sure what the salient difference is

If i remember correctly the other party must be a bank.