Russia’s Ministry of Finance has lowered the proposed fines both individual and institutional bitcoin users would potentially deal with for developing, providing or promoting digital currencies under a draft costs that looks for to ban using so-called “cash surrogates” like bitcoin.
The updated bill decreases fines for individuals, who under the latest variation would just sustain a maximum 50,000 ruble fine (roughly $ 1,050), below 60,000 rubles ($ 1,314) in the previous iteration.
Under the new terms, individuals who distribute money replaces straight could be fined 20,000– 40,000 rubles (about $ 420–$ 840), down from 30,000– 50,000 rubles ($ 750–$ 1,250) in the original proposition. Further, those who distribute details about cash substitutes face fines of 5,000– 30,000 rubles ($ 100–$ 630), lowered from 5,000– 50,000 rubles ($ 125–$ 1,250).
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