Russia prepares for total crypto ban

[Faisal2202]

Though this is truly sad news, I would say that this development will not anymore have any impact with cryptocurrency in general as I think the market has had already discounted Russia and China years ago. Do you agree with me?

Krelmin has been a big source of crypto users, many studies have shown that people in the Kremlin own more than 200$ billion dollars of crypto assets, and another study showed that the adoption rate is 3x in 2023 in the Kremlin. There are many other studies as well which are showing us that the Kremlin has been a big source of crypto users. So if Russia bans the usage of crypto there then we might see a big drop which will affect the price of BTC overall.

As you said China and Russia have already been discounted years ago but I did not discount Russia and recent studies have made me to not discount china as well. Because if crypto is not legal in china it does not mean there are strict laws against crypto users in china. Many people are still using crypto in China and a big source of trading volume on Binance and some other exchanges directly came from china according to many studies. So, I would say the main highlights are on US and that's why many people are not talking about russia and China.