Cryptocurrencies have been passing through hard times in Russia. Periods of acceptance have been changing with periods of rejection, at times the government saw cryptocurrencies as the future of financial world, at times it was ready to ban all that isn’t money officially.
Just a moth ago, Russia announced that it is going to issue its own cryptocurrency that will not be mined, and it will be regulated by the own legislation.
Some weeks ago, the communication minister of Russia Nokilay Nikiforov announced, that bitcoin and bitcoin trade would never be legalized in the country.
Though, bitcoin is something that is being widely accepted, and rejecting it completely would do harm to Russian economy. The head of Russian central bank, Sberbank, German Gref, believes, that banning of cryptocurrency and specifically bitcoin will not bring anything good to the country`s economy.
Virtual currencies are a logical result of the blockchain technology, and they will come in the world anyway, legalized or not legalized. Hence, why to ban them if the country can use them for its benefit?