Is there a crypto thaw in Russia and why?
Throughout the years, Russia has been sending conflicting signals over its relationships with cryptocurrencies. Lately, the Kremlin seemingly started to embrace crypto. Is this actually the case?
Early crypto regulations in Russia
Until the 2020s, cryptocurrency in Russia had effectively existed in a gray zone. In July 2020, President Vladimir Putin signed a digital finance asset (DFA) regulation that allowed crypto transactions while prohibiting residents from using crypto as a means of payment.
DFAs can be used by the banks registered with the Russian central bank, known as the Bank of Russia. Challenging crypto transactions in court is possible only if crypto possession is maintained and the owner…
