The ban has been introduced to prevent the use of digital currency for money laundering, terrorism financing and the drugs trade.
The tech giants are facing a possible $300 billion class-action lawsuit over their decision to ban digital currency ads.
The Ministry of Justice is the latest to criticize a digital currency ban proposed by the central bank that would make it illegal for Russians to own Bitcoin.
After taking a hard stance against Telegram for years, the Russian government has finally lifted a ban on the app, citing its cooperation in stopping terrorism.
The move comes as a surprise since many local governments have encouraged transaction processors to utilize the excess hydroelectric power in the area.
Alexey Guznov, head of legal at the central bank, said the latest draft of the bill will outlaw circulation and issuance of digital currency in Russia.
The Supreme Court lifted a ban imposed by the RBI on crypto, allowing crypto companies to access banking services. So, what are they up to now and what’s next?
The Reserve Bank of India has previously refused to work with crypto companies, effectively strangling the crypto sector in India.
Qatar has purportedly banned the trading, transfer and storage of cryptos. The ban comes at a time when other Middle East countries are embracing cryptos.
Reports of a new crypto bill, “Banning of Cryptocurrency and Regulation of Official Digital Currencies,” surfaced that would completely ban digital currencies.