Russian prosecutors issue warning over Bitcoin ATM installation

posted 20 days ago
The Prosecutor's Office of the Republic of Tatarstan issued a warning to a local businessman about two cryptocurrency kiosks, Bitcoin ATMs, that have been installed in two locations in Kazan, the capital city of Tatarstan.

A Nov. 3 article from Business Gazeta, and a photo from state-owned media source TASS dated Nov. 5 both referenced a recent ATM installation in Kazan at a local grocery store.

The reports may have triggered an audit of the bitcoin ATMs, which are said to be installed by a firm based in the Russian state of Bashkortostan and then leased to an unnamed 34-year-old businessman.

Officials said in a translated statement:

"The Republic of Tatarstan [is] to conduct a check for [a] possible violation of cash discipline, and other violations of tax legislation... the prosecutor's office…[is] to assess the legality of the activities of the tenant."

Officials for the office in Tatarstan added that the investigation is ongoing.
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