It is estimated that over 14.6 million Russians, 10.1% of the total population, currently own cryptocurrency. This article will discuss, "Does Russia Own Bitcoin? What is The State of Crypto in Russia?" Let's get started.
What is The State of Crypto in Russia?
As the Russian government continues to evaluate and assess its rules and legislation on the rapidly growing digital asset, cryptocurrency is still developing slowly in Russia. Nonetheless, Russia has taken positive steps with regard to crypto, as the government recently used approved cross-border transactions. The Bank of Russia and the country's Ministry of Finance announced their agreement to allow cross-border cryptocurrency payments in September 2022. In a Reuters report, Russian government representatives also revealed that they will "sooner cryptos cruise a later means of payment." Such policies seem to be already in place since the two largest financial institutions in Russia are said to have agreed to allow the use of crypto payments in international trade.
Does Russia Own Bitcoin?
Short Answer: Yes!
Amongst the 14.6 million Russians who own cryptocurrencies, Ethereum is the most popular digital asset, with 32% of Russian crypto owners holding that currency. Surprisingly, Bitcoin is only in second place with 30.8%. ownership data as almost one in every five crypto owners in Russia most likely own Ripple, Dogecoin or Solana. To no surprise, as a country with significantly more women than men, Russia is among the few countries where more women own crypto as opposed to men . Research in late 2021 also concluded that the bulk of crypto owners in Russia are roughly 18-34 years old (59.1%).
Does Russia Own Bitcoin? What is The State of Crypto in Russia? - Hopefully, this article can help you to get some knowledge.
