Russia has always been an important force for the evolution and value of digital currency, yet the numerous internal debates going on in the country make it hard for the average bitcoin users to understand what is really going on, and whether the Kremlin government is either against, or for digital currencies.
This mostly relates to the numerous news articles related to Russia putting Bitcoin in a bad light, similar to what China has been doing for a while, yet is this really the truth? Recent reports indicate that last week, law enforcement in Russia decided to arrest three individuals, who were then charged with illegally trading around $9 million worth of Bitcoin, which represents the country’s first criminal case against bitcoin sales so far. While some may interpret this and state that the Russian government is against any use of bitcoin, it simply shows that the Kremlin authority wants to crack down on those who are using the digital currency as a means for money laundering, rather than its true purpose. Not only this, but there have been numerous reports of Russian courts banning several bitcoin websites alongside with exchanges from allowing people to exchange bitcoin to rubles and vice versa, mostly due to the fact that the law states that there is no legal way for people to legally exchange bitcoin into rubles.