Russia, one of the global bodies who practice and engage the use of crypto currency has proposed a ban on it, stating fears as it(crypto) being a threat to digital currencies and also poses a threat to financial stability.
Vladimir Putin, president of Russia has decided that the proposed ban will be necessary as it will be able to curb financial insecurities. Mean while, Anton Siluanov, Finance Minister, is hoping there can be ways to iron out disagreements and that a bill be passed into law regulating cryptocurrency.
He is also of the opinion that should arguments ensue over the proposed bill, arrangements for it will be prolonged but is still hopeful that the President will agree to a consensus.
The news you are referring to is one month old.
Recent news is they are planning to regulate cryptocurrencies and they told that they will not treat cryptocurrency as a digital asset. They want to treat it as a currency but are not sure they are going to make it legal tender or not.
source link. Russia has millions of crypto users in their country and they know they can not prevent people from using it. Also banning cryptocurrency could cause panic among crypto investors from there so they make the wise decision.