The Director of the Bank of Russias legal department has admitted that Bitcoin and other cryptocurrencies cannot realistically ever be banned in the country.
Although cryptocurrencies are not exactly legal in Russia, it seems like they wont ever be banned, either. Thats the latest news from the Russian government. Although Russia has a love hate relationship with crypto and bitcoin, what do you think about this admission? I think personally no bank can control it, but they don't admit it.
What do you think about this? If you want to read the full article, you can click on the link below
https://beincrypto.com/russian-central-bank-admits-it-cant-ban-bitcoin/ I have two things to add to this. For one, I am pretty sure that the bank simply doesn't have the power to issue such legally binding documents so it cannot ban cryptos. Another thing is that a couple of years ago Russia tried to ban telegram which also has this feature that you cannot block it centrally. You can forbid people to use some things but that doesn't mean they won't be able to use them. Russia had a chance to see it in practice before, so perhaps they don't want to make the same mistake.