Russia's Bitcoin blockade is like drawing a line in the sand

     Russia is not a country known for its hospitality and respect for freedom of expression. The country has set up a special organization, Roskomnadzor , to monitor all Internet activity and, when necessary, restrict access to certain websites. Less than a year after Roskomnadzor was established, Russia completely blocked Wikipedia, and no one knows the reason for the blockage.

Similar to what happened to Wikipedia, Bitcoin-related websites and financial topics were also blocked. Russian authorities made it clear that in Russia, the only legal tender is issued by the government and the central bank, and any other form of currency, including virtual currency, is illegal in Russia.

     Roskomnadzor blocked a number of Bitcoin websites earlier this year, including btcsec.com and Bitcoin.org , which were blacklisted from access, prompting many to believe that holding virtual currencies could be a criminal offense.

     It is worth noting that these Bitcoin websites did not receive any warning from Roskomnadzor before being blocked . Recently, the Russian Bitcoin community has received a lot of support, including legal assistance. In May this year, the Yekaterinburg District Court overturned Roskomnadzor 's Bitcoin ban. This decision made the Russian Bitcoin community jubilant.

     Despite the court ruling, the Russian government’s stance on Bitcoin has not changed much in recent months. Bitcoin has always faced an uphill battle in countries such as Russia. The strict government and capital control system is more important than any other factor.

     These harsh realities reveal a truth from the side: the Russian government does not want anyone to disturb their precious financial ecosystem. The government can profit from blockchain technology without Bitcoin, and transparency has never been valued by the government.

     The emergence of Roskomnadzor has made many practices inconvenient, and Russia is positioning itself as a country that stifles financial innovation. In the long run, this will cause more harm to the Russian financial ecosystem, and it is only a matter of time.