Russia's Bitcoin Website Ban Overturned in Russian Court

Russia's Bitcoin Website Ban Overturned in Russian Court

Russia has been in the news for many reasons over the last year, from the military conflict in the Ukraine to the Russian Ruble falling in value by over 50% in 2014. Russia has also developed issues with the digital currency Bitcoin, as far as the government and their aims to ban it. Their views on Bitcoin may be tied to the devaluation issues plaguing the Ruble, and the government's need to protect its domestic currency from any and all perceived competitors. These problems with Bitcoin has led to the banning of any and all online website information related to cryptocurrencies earlier....


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Interest in bitcoin and blockchain technology by business and governments around the world increased in the past months. However, many governments have yet to take an official stance on digital currencies while some have placed restrictions or regulations on the use of Bitcoin. Russia was one of these countries, as it blocked access to websites with information about Bitcoin. The ban was implemented by the City Court Nevyansk on the basis that these sites contained information which was prohibited in the Russian Federation. The ban began on January 13th 2015 and included access to the....