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Russian Media Watchdog Bans Bitcoin Websites

© Flickr / AntanaBitcoin coins photo
Bitcoin coins photo - Sputnik International
Subscribe and have been added to Roskomnadzor's blacklist under Russia's federal information law based on a September court decision.

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MOSCOW, January 13 (Sputnik) — Two websites on the virtual Bitcoin currency have been banned by Russia's communications and media watchdog Roskomnadzor on Tuesday. and have been added to Roskomnadzor's blacklist under Russia's federal information law based on a court decision dated September 30, 2014. This information has been made available on the watchdog's website.

The website provides instructions on how to use Bitcoin and lists the currency's advantages, while serves as an online encyclopedia. The reasons for the ban are not yet known.

Bitcoin is an online payment system introduced in 2009 which uses a peer-to-peer community and lacks a central banking authority. The virtual currency's value has decreased drastically over the course of the past year, plummeting from just under $1000 in January 2014 to some $230 as of today.

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