As we have seen in various press articles, forums and even TV shows, Russia will ban cryptocurrency trading within its borders. Do you think that something similar to what happened with China for several years will happen or that the Russian government will apply it as quickly as possible with all the restrictions?. I am thinking that maybe it will happen like in India where they decided to ban crypto but then the government decided to discuss it again.
What do you think?.
Russia was one of the crypto fanatics, most of their community are enthusiast in the cryptocurrency.
So I doubt they will ban it and majority of their merchants are also adopted crypto currency such as Bitcoin, Ethereum,
Bnb, and more something like that. And it also helped their economy as well, that's what I know about it.
In Russia, decisions are made not by crypto-fans, but by the current Putin regime, which does not care about the opinion of the people. Therefore, one of the worst laws regarding cryptocurrencies is currently in force there, because its free circulation as a means of payment is prohibited there. In the context of the attack on Ukraine and the protracted war with it, as well as the imposition of harsh international sanctions, foreign investors, as well as wealthy Russians, are leaving Russia, who see no further prospects for development in this country. Therefore, the task of the authorities will be to prevent the outflow of capital from the country. Therefore, cryptocurrency is likely to be banned, because it will contribute to the outflow of capital from Russia.