An official from the Bank of Russia recently said that the central bank is not going to prohibit the use of digital currencies such as bitcoin in the country, CoinFox reported.

Speaking at a forum, deputy chairman Olga Skorobogatov said that the central bank does not want to ban anything before it understands it.

“Since bitcoin is a private currency, it turns out that not everything is as simple and brilliant there as they claim in books and magazines. The regulator’s position, therefore, is that we do not want to ban anything right now, before we understand what to make of it and then build a regulatory framework,” Skorobogatova said (as quoted by Rambler, translated by CoinFox).

The comments come after the country’s Ministry of Finance suspended its work on the bitcoin bill, which aimed to penalize the issuance and circulation of cryptocurrencies. Recently, deputy finance minister Alexey Moiseev announced that the draft law is postponed until authorities get a clearer picture of this financial innovation.

“The Central Bank and the Federal Financial Monitoring Service are observing if cryptocurrencies pose any threats to the Russian economy. So far, these agencies assume that there are no critical threats there,” Moiseev told RIA Novosti.

According to TASS, Moiseev is adopting a wait-and-see approach with digital currencies, CryptoCoinsNews reported. He said:

“So far, we decided just to watch carefully how it is developing. We decided that the Central Bank and the Federal Financial Monitoring Service should monitor cryptocurrency for Russia’s economic security. So far, these agencies believe that there is nothing critical [as a threat] in it. That means that they [the threats] may appear in the future, but now they do not exist.”