Russian media recently revealed that the government has drafted ato regulate, not prohibit crypto transactions. People working with the proposals told Bloomberg that the latest estimate was produced last month through analysis of the IP addresses of crypto exchange users and other information. The two sources chose to remain anonymous as the policies are yet to be finalized.
The cryptocurrency owned by Russians, the report notes, amounts to around 12% of the value of global crypto holdings, as per Coinmarketcap’s data, and is equal to a third of the market capitalization of their country’s benchmark stock index. This may be among the key reasons why the Russian government is more inclined to regulate the industry instead of imposing a wide-ranging ban.
The $215-billion figure exceeds previously announced estimates. In December, the head of the parliamentary Financial Market Committee, Anatoly Aksakov, said that Russian citizens had
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