The Ministry of Justice in Russia has, once again, not agreed to a draft bill put forth by the Finance Ministry seeking to ban bitcoin and introduce criminal liabilities to those who adopt, transact or mine the cryptocurrency.
The Russian Ministry of Justice has disagreed with the bitcoin bill prepared by the Ministry of Justice, despite the bill being the second version of the draft, due to be entered into the State Duma – the lower chamber of the Russian Parliament.
The first draft saw the Ministry of Justice disagreeing with some of the wording of the bill, specifically the lack of a precise definition for money substitutes or “surrogates,” as described in the bill. The term is one frequently used to describe bitcoin by Russian authorities who have taken a hardline stance against the cryptocurrency.
The Ministry of Justice had previously questioned the first draft, underlining a need to study the introduction of criminal liability for individuals and administrative bodies found using bitcoin. The bill proposes imprisonment of up to