Regulations around Bitcoin are still very much in flux between jurisdictions. This week the Russian telecommunications regulator,Roskomnadzor, blocked access to five bitcoin-related websites because the cryptocurrency “contributes to the growth of the shadow economy.”
Bitcoin’s legal status in Russia is actually quite complicated. The authorities there said last February that it would be illegal to use it as a money substitute, highlighting its potential for criminal use by money-launderers and terrorists. In September, deputy finance minister Aleksey Moiseev said an outright ban may be instituted in 2015. Legislators have recently been talking about heavy fines for the use of cryptocurrencies.