Russians Remain Skeptical About Cryptocurrencies Despite Upcoming Legalization

The majority of Russians remain skeptical about cryptocurrencies despite their upcoming legalization in the country. According to a recent survey, around 69% of respondents do not expect any real use cases for cryptocurrency even after it is permitted in Russia next month.

Of the remaining half, only 8% plan to spend crypto on purchases from abroad, while 6% intend to use it for long-term investments and diversification of their savings. Another 4% want to employ digital money in business activities and 13% envisage various other uses.

The survey was conducted by the Rambler&Co media holding among over 2,000 active internet users across Russia between July 23 and 30, right after the adoption of a new law regulating cryptocurrencies. The results are significant, as they show that despite the restrictions, many Russians remain unaware of the benefits and uses of cryptocurrency.

The Russian government is set to introduce a comprehensive regulatory framework on September 1, 2026, which will govern transactions related to investment and trading. Ordinary Russians will be granted legal access to cryptocurrencies like Bitcoin, albeit limited to the most liquid coins and capped at less than $4,000 a year for non-qualified investors.