Russias Prosecutor Generals Office recently made its stance on Bitcoin abundantly clear. Systems for anonymous payments and cyber currencies that have gained considerable circulation — including the most well-known, Bitcoin — are money substitutes and cannot be used by individuals or legal entities, the office said in a recent press release reported by Reuters. Introduction of other monetary units and money substitutes is prohibited. Russias decree should come as no surprise, considering its illegal there to trade with money substitutes.
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