Russia does not have the slightest interest in banning Bitcoin and cryptocurrencies, potentially CryptoRuble, but they would be developing regulatory frameworks for cryptocurrencies.

The problems in China, the lurching of South Korea and Japan, which is interested in Bitcoin, but does not end up approving anything, could make Russia the largest Bitcoin market in the world. The government has voices for and against this cryptocurrency, some attacking Bitcoin and the government encouraging Bitcoin mining and advancing a possible regulation of the cryptocurrency market. It was at the beginning of the week when it became known that Vladimir Putin, President (and internet meme) of Russia, would have given the green light to the cryptocurrency CryptoRuble.

Some analysts would have speculated that CryptoRuble would lead to a ban on Bitcoin and other cryptocurrencies in the country. It seems that Putin does not have this intention anywhere and that the central bank of Russia would be finalizing a regulation for Bitcoin and other cryptocurrencies. Putin would have said that like the United States, South Korea or Japan, the country needs frameworks to regulate cryptocurrencies and monitor activity with them. This means that Putin would have no interest in banning cryptocurrencies and he explains it this way:

'As is known, many countries are looking for ways to regulate the circulation of cryptocurrencies and are beginning to create the necessary legislative framework, a legislative regulatory system. We need to build a regulatory environment that allows us to codify relationships in this area, reliably protect the interests of citizens, companies and the state and provide legal guarantees for the use of innovative financial instruments'

Not only this, in September, Alexander Drozdenko, who is Governor of the Russian region of Leningrad, already proposed to promote mining and operations for the development of mining systems based on Bitcoin, promoting cryptocurrency mining in this region, encouraging this industry in the area. Drozdenko commented that: 'As you know, the construction of LNPP- is being completed in Sosnovy Bor, and large areas of the first nuclear power plant are being opened, something that may be of interest to cryptocurrency miners.'