RATE Group | Could the Russian Central Bank Try to Ban Bitcoin Mining?
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Could the Russian Central Bank Try to Ban Bitcoin Mining?

18 Mar Could the Russian Central Bank Try to Ban Bitcoin Mining?

Posted at 11:56h in Bitcoin News by

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Could the Russian Central Bank Try to Ban Bitcoin Mining? 101
Source: iStock/blinow61

Cryptocurrency enthusiasts and business insiders have reacted with alarm to a recent interview given by the head of the central Bank of Russia’s legal department hinting that cryptocurrencies could be outlawed in the country – leading to a possible block on Bitcoin (BTC) and altcoins mining.

Recent comments made by the central bank legal chief Alexei Guznov could have far-reaching consequences for cryptoassets in Russia. Guznov suggested that the Bank of Russia remains strongly opposed to cryptoassets, sees them as highly risky and would support a ban on their circulation.

But per media outlet RBC, multiple experts are calling for calm – and suggesting resourceful miners could stay afloat, with others stating that the central bank’s ban will likely never materialize.

RBC quotes Pyotr Lyalin, the deputy director for legal affairs and technology at the Synergy Research Group, as stating that miners could find a workaround, as miners could turn…

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