Cryptocurrency Regulation in Russia: A Double-Edged Sword

Russian financial organizations are now able to offer legal products and services for working with digital assets, thanks to new regulations.

However, experts warn that investing in cryptocurrency is still fraught with risks, including weak cybersecurity of individual services, the complex nature of digital assets, and non-obvious sources of profitability.

According to Yulia Voronova, director of information security consulting at Positive Technologies, the adoption of a law regulating cryptocurrency assets has given Russian financial organizations the opportunity to launch legal products and services for working with digital assets. However, this also means that more users will be choosing between various platforms, and their attention to information security may vary.

Alexander Krajko, a leading analyst at the crypto broker Cifra Markets, emphasizes that investors must first understand the economic essence of the instrument they are investing in. One asset may be a native coin of a blockchain, while another may be an obligation of a private company or backed by real assets.