Russians Skeptical About Cryptocurrency as Legalization Looms

Russia is on the cusp of legalizing cryptocurrency, but nearly 70% of its citizens don't see any practical use for it. This skepticism comes despite the impending regulatory framework that will take effect in September. The survey found that around 52% of respondents are not currently using digital assets and lack understanding about how legalization might impact their lives.

Despite the restrictions, over a fifth (22%) of Russians believe regulation is better than no regulation at all. Some respondents expect regulatory clarity and risk protection to be key factors in making crypto more accessible to them. A significant number of citizens (38%) want honest information about cryptocurrency without promises of quick profits.

Many Russians are unaware of how cryptocurrency works, with 54% admitting they know almost nothing about it. However, if the new legislation simplifies financial transactions, 15% might consider crypto a full-fledged alternative to traditional currencies.