Russia Proposes Prison Time For Bitcoin Activity

The Russian Ministry of Finance is preparing to add an amendment to the Criminal Code which will

dish out severe punishment for those using bitcoin, according to an unknown source within the government communicating with Interfax.

This version of the amendment is much harsher compared to the older version which sentenced the everyday bitcoin user to a year of “corrective labor” and two for the “organized groups”.

These punishments have been ramped up to four years of imprisonment for the everyday bitcoin user or a fine of 500,000 rubles (7,200 USD). If the fine can’t be paid, their salary or other income for the next three years will do.

Organized groups will be imprisoned for six years or fined 1,000,000 rubles (14,300 USD). If the the fine can’t be paid, their salary or other income for the next two to four years will do.

The top managers of banks and financial services companies will be punished the harshest. They face up to seven years of imprisonment with the inability to occupy certain positions and engage in certain activities for up to three years, or fined 1,000,000 to 2,500,000 rubles (35,750 USD). If the fine can’t be paid, their salary or other income for

Read more ... source: TheBitcoinNews

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