Russia Seeks Fines for Using Virtual Money Like Bitcoins
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Russia is seeking to outlaw virtual currencies like bitcoins by introducing fines for transactions using unregulated digital money.
Private individuals could be fined up to 50,000 rubles ($1,250) and public officials up to 100,000 rubles, the Finance Ministry said in a statement today describing the draft law. It said businesses could face a penalty of as much as 1 million rubles.