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/This is the fate of bitcoin and the entire cryptocurrencies across many countries. The government sees bitcoin as a currency being used for illegal transactions and money laundering and as such, they are very skeptical about it legalization. I say it is a good thing they are not putting a ban on it, with the way things are currently, people will still be able to make use of bitcoinwhich is largely at users discretion without any backing or support by the government