A high-ranking member of the State Duma of Russia stated that over $67 billion was invested in cryptocurrencies by Russians, while not mentioning a specific time frame.

While the law “On Digital Financial Assets” entered into force in early 2021, introducing some rules for only a few crypto-related activities, such as coin issuance, the key areas of regulation related to mining and taxation still remain outside the scope of the legislation.

Several media outlets reported that Russian government institutions have two opposing views on how to proceed with regulation – full ban or legalization of the crypto trade.