Russia legalizes crypto, but 69% see no practical use

Nearly seven in ten Russians surveyed could not identify a practical reason to use cryptocurrency, even as the country prepares to open a regulated market for digital assets. Summary 69% of surveyed Russians saw no practical cryptocurrency use cases despite the country’s legal framework. 54% said they knew almost nothing about cryptocurrencies, while only 6% reported direct practical experience. Russia’s signed law preserves the domestic payments ban while licensing exchanges, brokers, custodians, and depositories. New rules begin September 1, with licensed intermediary requirements becoming mandatory from July 2027 onward. 38% wanted honest information without quick-profit promises, showing trust matters more than simple access alone. A Rambler&Co survey published by TASS on Aug. 4 found that 69% of respondents saw no personal use case for crypto following legalization. Only 8% mentioned paying for foreign purchases, while 6% selected long-term investment and savings diversification. Another 4% cited business transfers and transactions. The findings arrived as President Vladimir Putin signed Russia’s new federal law “On Digital Currencies and Digital Rights” on Aug. 4. The law...