In most cases, bitcoin and the blockchain technology go hand in hand. After all, the entire bitcoin network relies on a shared public ledger, which, in turn, is what blockchain is all about. This partnership is accepted globally, but apparently, not in Russia.

The Ministry of Finance of the Russian Federation has been very vocal in opposing bitcoin, which was outlawed in the country in 2014. In October, Deputy Finance Minister Alexey Moiseev told CoinDesk the country is working on a draft law that will penalize the conversion of digital currencies into the ruble. If passed, anyone caught converting cryptocurrencies to fiat will face up to four years in prison.

That being said, Russia’s stance against bitcoin is clear. But what about the underlying technology?

Moiseev, in a separate interview with CoinDesk, sang a different tune: “We feel that blockchain technology is very important in the development of various Internet-based services.”