More than 56% of Russians have already heard of Bitcoin, according to a survey conducted by "Center pan-Russian for the study of Public Opinion, or VCIOM, "translated by Bitcoin.com

The popularity of Bitcoin and cryptocurrency as an emerging asset class among young people in Russia has increased exponentially in recent months. The survey found that 75% of people aged 18 to 24 have come to know Bitcoin, and 74% of the population of the Russian capital is now aware of cryptocurrency.

However, only a minority of individuals heard about Bitcoin understand that Russian citizens and residents can invest in the cryptocurrency market. More than 16% of people with underlying knowledge in Bitcoin still think that investing in Bitcoin is illegal in Russia.

State of the cryptocurrency market in Russia

For several months, the Russian authorities of its local cryptocurrency exchange market. At the beginning of October of last year, the Russian authorities agreed to legalize the cryptocurrencies and regulate the country's cryptocurrency market by granting licenses to

] "The president talked about the cryptocurrencies issues, which are issues around money laundering and identification issues. that's why we agreed that the state should regulate the issuance of cryptocurrencies, their extraction and their turnover.The state should take all this under control. "

At the time, Siluanov and the rest of the Russian government reached a consensus to implement strict policies of knowing your client and fighting against money laundering. to prevent money laundering and cryptocurrency companies from carrying out fraudulent transactions.

In October, the Russian Finance Ministry publicly stated that it planned to regulate the Russian cryptocurrency market by the end of 2017. In December of the same year, Anatoly Aksakov , the chairman of the state Duma's financial markets committee, noted that a cryptocurrency bill has been introduced and will likely be passed in March 2018.

" The problem is that we already have a lot of people [cryptocurrencies] and they are deceived, we have to give people the opportunity to legally work with him, to protect them as much as possible, "said Aksakov.

Russian President Vladimir Putin ordered the government The Russian president said during an interview with the TASS: "It is the prerogative of the Central Bank at the Central Bank of Taiwan and the central bank has sufficient authority to date.However, in general terms, the legislative regulation will definitely be necessary in the future. "

In addition, by the end of 2017 , Putin also asked the Russian government to properly regulate its cryptocurrency mining industry, a growing number of Russian cities and provinces also encouraged cryptocurrency miners to relocate their activities to other important areas such as the China to Russia, while the world industry of cryptocurrency has been transformed into

Can Russia evolve into a major market for cryptocurrency?

As shown in the survey mentioned above, more than a quarter of Russians already know Bitcoin and the cryptocurrency market. still believe that cryptocurrency investment in Russia is illegal, and the lack of regulation on the local market limits the adoption of Bitco

Proper regulation of the Russian market of cryptocurrency would likely lead to higher interest, demand and volume, allowing Russia to compete with Japan, the United States and South Korea as a major market for cryptocurrency. ]