This was inevitable. After the US and its allies sanctioned Russia, it was expected they would further regulate cryptocurrencies in order to avoid Russia from using them as a means to finance their operations. With the President Biden's new executive order, I'm afraid we'll see heavy-handed regulations from the US in the long run. This would mean decreased adoption of Bitcoin and other cryptocurrencies in the country.

Russia may have been cut off from SWIFT, but it still has China's support. With crypto, Russia can circumvent sanctions due to its decentralized and censorship-resistant design. Governments may only be able to enforce regulations across centralized exchanges and wallet providers but they won't have much success with decentralized counterparts. We'll see how everything will play out in the long run as the global economy changes in many drastic ways. Just my thoughts