Russia embraces crypto, but Kremlin goals remain ambiguous
Several cryptocurrency-related news stories from Russia dominated the first weeks of March. Some indicate the sector’s ongoing development, while others point to weak spots that require more action. Let’s examine them to see if the Kremlin will embrace crypto.
Crypto investment testing
The current status of crypto in Russia is far from loose—residents are allowed to buy and hold crypto, but they cannot pay with it. Crypto holdings are subject to taxation. Also, crypto mining is allowed and regulated but temporarily banned in select regions.
On March 12, the Bank of Russia offered to allow a limited number of “particularly qualified” investors to buy and sell cryptocurrency. The investors who fit…
