It is 'illegal' in the same way all foreign currency (more accurately, anything that isn't the ruble) is illegal - that is, you need specific permission to trade, hold or settle in any other currency.
In Russia currency is extremely regulated - you won't find rubles outside of Russia and within Russia what you can do with other currencies is extremely limited (and requires permission/licensing). They did this to stop locals fleeing the ruble and causing a crash. At one point 90%+ of all cash transactions in Russia were in foreign currency - so these laws stem from that period.
The best way to interpret this guidance would be as a reminder from the Russian government that bitcoin is not a replacement nor alternate currency for the ruble, and the same laws apply to it as apply to the USD and other foreign currencies.
This is far from a 'ban' on bitcoin, you can still hold bitcoin in the same way you can hold USD or any other foreign currency. You just can't settle domestic transactions in bitcoin.
Comments
It is 'illegal' in the same way all foreign currency (more accurately, anything that isn't the ruble) is illegal - that is, you need specific permission to trade, hold or settle in any other currency.
In Russia currency is extremely regulated - you won't find rubles outside of Russia and within Russia what you can do with other currencies is extremely limited (and requires permission/licensing). They did this to stop locals fleeing the ruble and causing a crash. At one point 90%+ of all cash transactions in Russia were in foreign currency - so these laws stem from that period.
The best way to interpret this guidance would be as a reminder from the Russian government that bitcoin is not a replacement nor alternate currency for the ruble, and the same laws apply to it as apply to the USD and other foreign currencies.
This is far from a 'ban' on bitcoin, you can still hold bitcoin in the same way you can hold USD or any other foreign currency. You just can't settle domestic transactions in bitcoin.