Russia first to ban bitcoin and other virtual currencies!


“The monitoring of the use of virtual currencies shows an increasing interest in them, including for the purpose of money laundering, profit obtained through illegal means. Russia’s official currency is the ruble. The introduction of other types of currencies and the issue of money surrogates are banned,” – Prosecutor General Office of Russia

It sure will be interesting to  watch and see how Russia enforces this law, I mean cryptocurrencies are anyonymous and done in private. Banks cannot stand bitcoin and other virtual currencies, because they are not part of the action.

Bitcoin took a little plunge on Friday, coming in at around $750 a Bitcoin,  due to the Mt.Gox suspending payouts to its users. Mt.Gox should resume issuing payouts today, and claimed the payment delays the fact that their servers got slammed by too many transaction requests.