Nearly 70% of Russians see no use for crypto under Moscow’s new terms

The majority of surveyed Russian citizens fail to recognize significant use cases for cryptocurrency despite its upcoming legalization in their country.

The finding comes before the enforcement of a comprehensive regulatory framework in September as Moscow seeks to take the reins of the growing market.

Russians remain skeptical about crypto ahead of restrictive regulations

Around 69% of the participants in a new survey do not expect any real use cases for cryptocurrency even after it is permitted in Russia next month.

Approximately 52% of the respondents admit they are not using the digital asset now and don’t understand how its legalization will impact their lives.

Of the remaining half, 8% plan to spend crypto on purchases from abroad, 6% intend to use it for long-term investments and diversification of their savings, TASS detailed in a report on Tuesday.

Another 4% want to employ digital money in business activities and 13% envisage various other uses, the official news agency added, quoting the poll conducted by the Rambler&Co media holding.

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