The Russian bitcoin ban plan is on indefinite hold

The Deputy Finance Minister of the Russian Federation has now stated that the spread of bitcoin in Russia does not represent a threat the country’s financial ecosystem, at its current rate of adoption. As such, the plan to ban the cryptocurrency is now paused. Alexei Moiseev, the Deputy Finance Minister who has primarily spearheaded the Russian Finance Ministry’s intent to ban bitcoin beginning two years ago in 2014, has now stated that the cryptocurrency isn’t a threat to Russia’s financial system.