Not a smart move: Russia might ban cryptocurrencies

Just recently, Russian parliamentarians proposed the bill which possibly might ban cryptocurrencies' use if passed. Some field experts suggested that eventually Russian authorities might plan creating something like a national cryptocurrency and push people to use it. Others say the very restrictive approach towards cryptos might kill the whole industry. As a result, the exchange owners and others involved in the field might move abroad (Belarus, Kazakhstan) in order to upkeep their business.

I personally believe this draconian bill is aimed at killing the industry they can't control, I bet most of those people in parliament don't even understand what they are trying to ban, since executing such law is virtually impossible.

Who else could be interested in killing #crypto industry in Russia? Obviously, the banks are. The crazy money machine would never allow competition.

I really hope the law won't be passed, because jail for crypto sounds simply barbaric.