Russia has officially legalized cryptocurrencies for use in international trade settlement. After Western sanctions cut off a large number of traditional financial channels, Russia has proactively used crypto assets to fill this gap.
When I first saw this news, my first reaction was: "Is this a good thing or a bad thing?"—under sanctions, legalization sounds pretty complicated.
After thinking it through, I believe it has positive long-term implications for the crypto market, for this reason: when a sovereign state uses crypto assets in real trade scenarios instead of treating them merely as a speculative tool—this is a signal of crypto "monetization" rather than just "assetization."
In the EU’s 21st round of sanctions, it specifically targeted Russia’s crypto networks. Under sanctions, Russia, in turn, uses crypto for trade. Two super-sized economies took opposite approaches to the same asset—but both things point to the same conclusion: crypto assets have already entered genuine, state-level economic decision-making, and are no longer just aretail-game.
What happens when this trend reaches its end point—I can’t say for sure—but the direction is that crypto is being used more broadly as a real tool. This is positive for the industry’s long-term fundamentals.
What do people on the forum think about Russia’s move? Share your view.
$BTC
When I first saw this news, my first reaction was: "Is this a good thing or a bad thing?"—under sanctions, legalization sounds pretty complicated.
After thinking it through, I believe it has positive long-term implications for the crypto market, for this reason: when a sovereign state uses crypto assets in real trade scenarios instead of treating them merely as a speculative tool—this is a signal of crypto "monetization" rather than just "assetization."
In the EU’s 21st round of sanctions, it specifically targeted Russia’s crypto networks. Under sanctions, Russia, in turn, uses crypto for trade. Two super-sized economies took opposite approaches to the same asset—but both things point to the same conclusion: crypto assets have already entered genuine, state-level economic decision-making, and are no longer just aretail-game.
What happens when this trend reaches its end point—I can’t say for sure—but the direction is that crypto is being used more broadly as a real tool. This is positive for the industry’s long-term fundamentals.
What do people on the forum think about Russia’s move? Share your view.
$BTC