The Director of the Bank of Russia’s 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 won’t ever be banned, either. That’s 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/It is precisely in Russia that they are quite capable of prohibiting the cryptocurrency circulation, regardless of whether they can actually implement such a decision or not. There, already in the first reading, the State Duma approved a bill on the virtually complete prohibition of the cryptocurrency circulation for ordinary citizens, so it is quite possible that this bill may soon enter into force. Russia can now be considered a police state, with regard to its people there they rely on brute force. Therefore, using the example of Russia, it is possible to experiment whether the state can really control the process of prohibiting the circulation of cryptocurrency.