The recent law „On Digital Financial Assets” has not gone far enough in the eyes of Russian crypto industry advocates.
Despite Russia adopting its first cryptocurrency law in January 2021, the country’s cryptocurrency market is still largely unregulated and is associated with a lot of uncertainty, according to a local industry advocate.Yury Pripachkin, head of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (RACIB), argued that the existing Russian crypto regulations are nothing more than “half-measures” that have nothing to do with systematic solutions.In an interview with local news agency RBC, Pripachkin referred to Russian President Vladimir Putin issuing multiple consecutive mandates to adopt crypto regulation over the past four years. The executive highlighted that the total market capitalization of cryptocurrencies surged from around $200 billion in 2017 to the current $2.7 tri
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