Russian central bank plans to ban websites that offer bitcoins

Andrey Rudakov | Bloomberg | Getty Images

A national flag flies above the headquarters of the Central Bank of the Russian Federation in Moscow.

Russia will block access to the websites of exchanges that offer crypto-currencies such as Bitcoin, Russian Central Bank First Deputy Governor Sergei Shvetsov said on Tuesday.

“We can not stand apart. We can not give direct and easy access to such dubious instruments for retail (investors),” Shvetsov told a conference, referring to households.

Russian authorities said earlier this year they would like to regulate the use of crypto-currencies by Russian citizens and companies.