The Russian government is one of the several nations that hasn’t back the adoption of cryptocurrencies in the world. The Russian government has made its stance known again by blocking certain media sites for allegedly promoting money laundering.
The Russian Federal Service for Supervision of Communications, Information Technology and Mass Media, blocked the website of a Russian crypto news site, Bits.media, for users of most major Russian providers, the outlet confirmed on June 30.
As it happens, the portal’s editors discovered that the reason for the blocking was the decision of the Volzhsky District Court of the city of Saratov. It was discovered that five internet addresses contained “information promoting money laundering.”
According to Kirill Pronin, head of Russian Central Bank (CBR)’s Department of financial technologies, crypto will only be legal if some conditions are met. He said that digital currencies would be allowed in Russia mined assets would be sold strictly abroad and in exchange for fiat money.