The condition of the Russian state and the issue of legalizing Bitcoin in trade until the new rules have reached the national news of my country. However, this is good news that should be cheered up by the market because it is hoped that it will resolve the doubts of the Russian public who owns a proportion of the portfolio in crypto. Unlike China, its ally, which strictly prohibits Bitcoin only for the benefit of its country's regulators.
It is because people are seeing Russia and China as of the same ideology and they think that if China will see the development of crypto in Russia and they will not see any harm to the state then China will also resume the crypto trading, its mining and its other usage. Because of the China ban many people in china are unhappy and many lost their earnings, now after this news people from China are expecting the same from their country too.
Not just for China alone but for all countries who have been eyeing bitcoin since El Salvador adopted it as a legal tender. The plan to legalize crypto is supported by the Central bank of Russia so they are now lifting the ban on crypto mining and trading. Russia was more encouraged too because they have seen India on legalizing the tax for digital assets, and from here, we can expect for a wider adoption for crypto in the next couple of months.