Russia Legalizes Crypto, But Citizens Remain Skeptical

Russia has legalized cryptocurrency, but it seems many citizens are still unsure about its practical uses. A recent survey found that nearly seven in ten Russians could not identify a reason to use crypto, despite the country's new regulatory framework.

The survey, conducted by Rambler&Co and published by TASS on August 4, showed that only 6% of respondents had direct experience with cryptocurrencies. The majority, at 54%, said they knew almost nothing about how they work.

The law signed by President Vladimir Putin on August 4 creates regulated channels for trading, custody, and foreign trade settlement, but it does not allow consumers to pay for ordinary goods and services with crypto inside Russia.