In September 2017, three men were under arrest by Russian authorities for dodging in large scale illegal bitcoin sales on few years. The detain individuals were being investigates for processing a high volume of trades. As it was without a license and for not paying taxes on their profits.
According to Vedomosti newspaper, more than 500 million Russian rubles have been apparently trades without a license. Reportedly, the authorities filing a criminal case against the “illegal” bitcoin sales.
How the men were arrested
According to the investigators, they have come across bizarre activities in bank accounts linked about 300 sim cards and bank cards. Therefore, they claim that all the trades have link to Bitcoin activity. Some money from traders were assuredly transfers into bank accounts own by family members of the detain individuals.
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State of digital currencies in Russia
Due to growing popularity, the Russian government is cumulative to efforts to analyze activities involving digital. Therefore, the investigation’s main intent is to prevent tax evasion related to digital currencies. Arresting three Bitcoin sellers is considers as initial step in the strengthens effort by authorities to get tax evaders to justice.
Previous year, Russian authorities launch drive to ban bitcoin exchanges and websites where the cryptocurrency can be renews to rubles. However, authorities have failed to file criminal changes to the operators and participants in exchanges despite having the information about them. The case filed against the three sellers is the first Bitcoin relates one in the country till now.