Russia’s New Law Threatens Internet Privacy as LocalBitcoins Volume Spikes

Recently the Russian State Duma adopted amendments to the law “On Information, Information Technologies and Information Security” that will enable Moscow to tighten its grip on the Internet.

The Russian authorities claim that the Internet threatens state sovereignty since it is border-agnostic and, thus, attackers pose a risk to national security as they operate from abroad.

Now, the new legislation is attempting to cordon off Russia’s Internet. It obliges companies to store personal data on Russian users on servers located in Russia only. Moreover, companies will have to report to Roskomnadzor (Federal Service for Supervision in the Sphere of Telecom, Information Technologies and Mass Communications). Roskomnadzor has the right to fine companies 300,000 rubles (about US$5,000) that violate the new law.

The new law has caused alarm among major Internet companies such as Facebook, Twitter and Google. However, it is yet unclear what kind of impact the law will have on the Internet in Russia. Many companies have refused to follow these measures, while some have expressed full readiness to comply with the new legislation. Regardless, foreign companies that do not have a server in Russia may face difficulties and this could lead some

Read more ... source: Cointelegraph