The Russian government is reportedly pressing to try to have Bitcoin and other cryptocurrencies outlawed, with users facing potential jail time if caught.
The country's Ministry of Finance has laid out a proposal that would make using Bitcoins an illegal activity, with those found guilty of using Bitcoin facing fines of 4,000 rubles and four years in prison. Those who face the fine will have to pay the money up front.
Those that mine and trade in the currency will face even harder penalties, with jail sentences of up to six years and a fine of up to 1 million rubles. Even worse, banks and other financial institution managers can face up to seven years and jail and a 2.5 million penalty.
Bitcoin is used by people throughout the world to play at online casinos and purchase goods. The currency is known for providing users with a level of privacy, allowing for the purchase of goods that may be illegal.
Casino Listings will update this story as more developments arise.