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.
I personally do not believe a single word of Putin. His words are constantly at odds with his actions. He lies all the time and in everything. This is especially evident in Russia's foreign policy. As for the cryptocurrency, the laws that are being adopted and prepared in this country are simply draconian. In my opinion, Russia is on the verge of completely banning its movement. For a long time, many have understood that Putin is not giving the people the opportunity to use cryptocurrency to make money and profit. Probably because he understood its value, he does not even allow her to circulate in Russia.