I have read many times that Russia wants to legalize crypto fully but I don't know how genuine the news is. What I know is that Russia is a country that needs a lot of reform due to the economic segregation by many countries of the world. So if they would implement that, it means they are desperate for more financial independence which Bitcoin in particular would do successfully for them. And it would be another proof that Bitcoin is a saver.

Yes, it would help them, but to what extent, I would say it isn't easy to ascertain. This is because it would only help them if they are strict with using only a well-regulated centralized system. If not, the decentralized transactions will never add to their economy, though both would ease the payment of goods and services across borders.

According to the congressional finance committee chairman, Anatoly Aksakov, It will only be used for International trades and not as a means of payment within the country. I still see it has Russian government still banning Bitcoin and other Crypto Currencies because not all their Citizens do international trade and since it can't be used for domestic transaction then it is useless. They are only concerned about western sanctions and not the interest of their Citizens.

As practice shows, the news is very often deceptive and has nothing to do with reality. However, if this news is true, then the best way is to check it out to see if it is true or not. But based on the current situation, this news may well be true, but the question still remains, what exactly will the cryptocurrency be used to pay for? I remember once they asked Putin a question about whether BTC could be used to pay for hydrocarbons or oil, to which he replied that in the future it is possible - yes, but as long as the price of BTC is too volatile, this option is not considered. So everything is simple here, cryptocurrencies can be used as a means of payment, but for this their prices must be stable.

I do not think this news is a new one either. Although it is a welcome development if that is the case because it is the mass adoption we are talking about. However, Russian government has been in logger head with the EU and US over Ukraine war since the beginning of this year making Russia to face sanctions from various world powers and international organizations  cutting them off ties in business, bilateral relationship etc. Maybe one of the major reason for doing that is to evade the ban on trading with them because any nation that do trade with Russia would likely face sanctions from the IS which is very detrimental so therefore it is best their identity is not known when dealing to cover their name which is a good move.  If Russia takes such step, it would be a good one for them.

Russia's current biggest trading partners are China and India. China has been very unfriendly to bitcoin, which means that this policy might be targeting India. Although cryptocurrency investments or transactions are heavily taxed in India, it is more friendly than China.

Russia would do anything to replace the US dollar in its international business transaction, therefore bitcoin might be a good alternative. India would be willing to trade with bitcoin because it is benefitting from its trade with Russia. The former is buying crude oil at a discounted price and Russia is willing to trade with them because it has few options. Restricting bitcoin transactions internally and promoting it in international trade is hypocrisy.

Russia hasn't been consistently anti-Bitcoin. While some people and institutions called for a ban, others have been playing with the idea of legalizing it for a while. The current position seems very pragmatic and practical: they don't allow their own citizens to engage with Bitcoin because it isn't going in line with the totalitarian regime and because they don't want to risk undermining their local fiat, but they do need to find ways of limiting the impact of international sanctions, and accepting Bitcoin for international trade is one of them. Russian economists seem quite smart, considering how they've been handling a very difficult economic position that Russia's in because of the war. But such a step, should they truly undertake it, can lead to reputation losses of Bitcoin as a tool to avoid sanctions.

In the last month you can see that many decision in russia led to a wider adoption on crypto. It is not really clear if this is connected to the war, but it could be that russia doesn't want to ban bitcoin as it is an option to trade with sanctioned countries. This is the beauty of decentralization. If one country bans bitcoin another one will support it. After a few years, the roles may reverse, but in the end in some countries bitcoins will always be appreciated.

Whether they legalize or illegalize crypto for trades within their borders or outside, they can't avoid the sanctions that have been given to them. Also, it's been known that despite the ban that they've implemented. They just can't stop their people from doing transactions, they might stop it based on their laws but for sure that there are citizens that have been continuing what they've been doing. This is known for most countries even if they implement a ban nationwide.

For a long time, they have been attempting to legalize Bitcoin trade on a global level. They're probably trying to avoid Western sanctions by accepting Bitcoin payments. But I'm not sure how Westerners will react to that. They might then take a stand against Bitcoin. I'm not sure why Russians don't accept crypto payments both globally and locally. Why limit themselves to international trade? It would be preferable if they opened up all crypto-related trades.

Ja that is the risk we have now this is why I do not think this is a good thing. If the West decides to target Bitcoin because Russia is using it to get past the sanctions I think that could be devastating to the price of btc for as long as they target it what I am concerned about is Bitcoin is not used much by governments and they could put a sanction on btc permanently if they wanted too which could effect the price further. As long as they allow people to transact in btc it should not be a big problem but sanctioning countries with btc would probably be just more negative news to create doubt.