Russia is adopting a different attitude towards cryptos than China. President Putin has come public saying
"Bitcoin has value but it cannot be used in the Oil trade" I guess Putin didn't still fully grasp the real potential of cryptos as he says
“Cryptocurrency is not supported by anything as of yet. It may exist as a means of payment, but I think it’s too early to say about the oil trade in cryptocurrency.”
But even so, it shows that Russia seems to be adopting a friendly position facing cryptocurrency and it may be having some impact on the industry. Given that China adopted a harsh position towards cryptos, is it possible that miners are relocating from China to Russia? Is it possible for Russia to step up to occupy the former place China had in Bitcoin? I guess this is what is happening, otherwise, Putin wouldn't come public with such a neutral position.
The Russian president only said that Bitcoin has value but he also said that Bitcoin cannot be used for oil trading, from the words of the Russian President I think that there is no hope for Bitcoin to be made as legal tender in the country.
From this news we can conclude that the President of Russia does not prohibit bitcoin in his country but the President of Russia also does not accept Bitcoin as a legal tender.
Hopefully in the future the Russian President can accept bitcoin as a legal means of payment so that the poor can be helped by bitcoin and on the other hand so that the price of bitcoin becomes more expensive.