Alexei Guznov, the director of the Central Bank of Russia, recently stated that “ banning bitcoin and other cryptocurrencies are realistically impossible in the country.” Russia holds no specific rules and regulations for bitcoin and other cryptocurrencies, but, the support regarding the ban of all the cryptocurrency in the country was been voiced in the past by the Central Bank Of Russia. In the last week, bitcoin noted its worst downfall, where the price was dropped below $4,000.