Black was fined £7,500 and handed a 10-game ban - seven of which have been suspended for a year - after admitting betting his own team would not win on three occasions and gambling on 10 other matches involving his then club.
The former Hearts midfielder's charges related to a seven-year period stretching back to his Inverness days, while he was also warned over making 147 bets on matches not involving his team, which breaches the SFA's zero-tolerance rules on gambling.
Rangers last year terminated the contract of striker Francisco Sandaza after he was caught making comments about his deal and his openness to discussing a potential move during a prank phone call.
But McCoist - who confirmed the player had also been disciplined by the club - insists he has no doubt's about the Scotland international's commitment and will consider him for selection when his ban ends at the end of the month.
"The decision has been made and he's been punished," said McCoist. "Now we just move on.
"I have seen every one of his bets and I certainly don't have a problem with Ian Black playing for Rangers again. I don't have a problem with his commitment to our club, his commitment as a player, his commitment in all the games.
"So that's it for me, the issue is closed.
"[Chief executive] Craig Mather and myself have sat down and had a chat. Disciplinary action has been taken but it is an internal matter and that's the way it will remain."