Russian Regulators caution about Crypto ATMs

Nishanth Shetty

Nishanth Shetty

November 21, 2017 6:36 am

Russian Regulators Caution About Crypto ATMs | Coindelite News
2368 Total Views

Bitcoin Regulation

Russian regulators in the territory of Tatarstan have issued a solid cautioning in regards to the establishment of Bitcoin ATMs, as indicated by the administration site. The announcement clarifies that the utilization of such ATMs is a crime and businesses should consider this before introducing them.

The notice comes after two ATMs were introduced in nearby shops in the area of Kazan by a 34-year-old representative. The gear had been rented and moved into the stores, and was putting forth Bitcoin for Rubles. The notice likewise incorporates points of interest on the Russian government’s position on cryptocurrencies, even connecting the buy with psychological warfare. As indicated by the announcement:

“At present, the lawful status of crypto-currency in the Russian League isn’t characterized. The arrangement by Russian legitimate substances of administrations for trading “virtual currencies” for rubles and foreign currency, and also for merchandise (work, administrations) is considered as potential contribution in the implementation of questionable transaction as per the legislation on battling the legitimization (washing) of continues from crime, and the financing of terrorism.” 


The notice takes a general cooling in Russia with respect to cryptocurrencies after Putin and other government authorities communicated concern and even threatened bans. In any case, the Russian government has laid out plans to issue their own ‘CryptoRuble’.

No Comments
Police Official Arrested for Bitcoin Extortion Case in India

Indian Police Arrested for being Involved with $1 million Bitcoin Theft scheme According to the recent reports, another popular police official in the Indian state of Gujarat has arrested for being in connect with $1 million bitcoin theft scheme. Hindustan Times reported,  Amreli police director Jagdish Patel was arrested Sunday …

Bitcoin is Vast than the Industrial Revolution says, Tim Draper

Tim Draper says Bitcoin is Larger than any other Industrial Revolution American venture capital investor and Blockchain industry influencer Tim Draper insisted that Bitcoin (BTC) is “bigger than the internet,” and some other significant developments in human history, during the Intelligence Squared US debate in New York City this Saturday. …

Bitpay includes Bitcoin Cash support to Checkout Point-of-Sale App

Bitcoin Cash support Added by Bitpay to Checkout POS App Bitcoin Cash is continuously getting more support amidst clients and service providers, with the most recent example coming from Bitpay. The service now enables merchants to acknowledgement BCH via its POS app, and settlement is awaited soon too so that …

Australia to Mine Bitcoins by reopening Coal Power Plant

Contract with Crypto Mining firm Signed by Australia to reopen Coal Power Plant A contract has been signed with the IOT Group, a cryptocurrency mining firm by Australia’s Hunter energy to reopen a coal power plant in the Hunter Valley Region of Australia. Although new and advancing technologies are largely …

Blue Check Mark on Twitter Doesn’t mean your Account is Safe

Bad Checks: Twitter’s Identity Crisis Costs Users More Than Bitcoin According to a Russian Writer, it’s one of crypto’s most generally embraced slogans, though one that’s becoming even more important on social media, where battling factions inclined on promoting the next big high-tech investment are presently turning the very symbols …

Quebec Chief Scientist says Bitcoin is not a Tool for Illegal Transactions

Bitcoin is not a Tool for Illegal Transactions, says Quebec Chief Scientist According to the reports, The Chief Scientist of Quebec Rémi Quirion said that public is worried that Bitcoin is being used for illegal activities like tax evasion and money laundering is mostly overblown. The statement provided by the …

Press Release