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/I do know that, you can’t really ban Bitcoin. It’s just like talking about regulating cryptocurrency; cryptocurrency cannot be regulated, except through exchanges.
If your cryptocurrency is not on an exchange, then the government cannot regulate or have any control over it. And the exchanges that I am referring to are the ones that are Centralized, because these are the ones that are being controlled by the government, so whatever you’re doing with them they will giving info to the government. So cryptocurrency cannot be banned, even if it’s banned, people will still be using it secretly.