Russia's crypto law: 69% of Russians see no personal use

Nearly seven in ten Russians surveyed could not identify a practical reason to use cryptocurrency, even as the country prepares to open a regulated market for digital assets.

A Rambler&Co survey published by TASS on Aug. 4 found that 69% of respondents saw no personal use case for crypto following legalization. Only 8% mentioned paying for foreign purchases, while 6% selected long-term investment and savings diversification. Another 4% cited business transfers and transactions.

The findings arrived as President Vladimir Putin signed Russia's new federal law "On Digital Currencies and Digital Rights" on Aug. 4. The law creates regulated channels for trading, custody and foreign trade settlement. It does not allow consumers to pay for ordinary goods and services with crypto inside Russia.

More than half of respondents, or 54%, said they knew almost nothing about how cryptocurrencies work. Another 23% said fragmented and conflicting information made it difficult to understand the sector.

Only 17% said they understood the basics; they wanted clearer explanations and practical examples. Just 6% described themselves as knowledgeable users with direct experience.

The survey also found that 52% did not use crypto and could not determine how legalization would affect their lives. Another 22% said regulating the market was preferable to leaving it in the shadows. An additional 20% welcomed the move toward formal rules.

The poll ran on Rambler&Co websites from July 23 through July 30 and involved more than 2,000 internet users. The published summary did not provide demographic weighting or a margin of error. The results should therefore be read as the views of participating internet users, rather than a definitive measurement of Russia's entire population.

The timing also requires context. Respondents answered after the State Duma approved the legislation on July 21 and around the time the Federation Council endorsed it on July 24. Putin had not yet signed the law, and its consumer-facing rules had not taken effect. The survey measures expectations about legalization, not behavior under an operating regulated market.

Russia's new framework recognizes cryptocurrency as property and establishes regulated intermediaries. Those include exchanges and digital depositories.

The main provisions take effect on Sept. 1. Existing businesses have a transition period before rules requiring transactions through licensed intermediaries become mandatory on July 1, 2027.

Legalization does not turn Bitcoin or stablecoins into domestic money. The law continues to prohibit crypto payments for goods and services inside Russia. It permits specified exceptions, including foreign trade contracts and mining rewards, plus transactions involving other digital assets.