10% of Russians want to invest in crypto and the EU had led the way

The cryptocurrencies are totally ready to rule the world one of these days. If you think about it, it makes sense: they’re way more practical, cheap, and fast than the traditional money. Now, according to a poll done by the firm IDF Eurasia, at least 10% of the Russians with bank accounts want to invest in cryptocurrencyA digital currency running on a blockchain and built with cryptography. Contrary to central-bank issued currency, cryptocurrency issuance rules are....

Additionally, around 22% would like to invest in foreign currency, probably because they already have a better understanding of these. This may mean if the circumstances are ideal, that those people could invest in cryptocurrency as well at some point. Indeed, in a study done a month earlier, the same share was 47%.

This decline, they explain, could be “partly due to the growth of the currency exchange rate, as well as the continuing uncertainty in the financial markets”. That’s exactly why they might find some kind of safe-haven inside the cryptocurrency world.

EU and regulations

Meanwhile, a separate study done earlier this year across 10 European countries, revealed that at least 66% of its citizens believe cryptocurrencies will keep existing in ten years, even if they’re not sure of how might be used in the future. However, at least 9% of them believe Bitcoin will be fully ingrained into society.

And that last hope could be a reality at some point, because the European Union regulators are working in a flexible legal framework right now, to make the cross-border payments with cryptoassets easiest, faster and cheaper. By 2024, they want this to be the standard above the cash.

On the other hand, Russia hasn’t been so friendly about cryptoassets and they’re also making some amendments to its first crypto-laws. In the meantime, we already know the crypto-miners can’t receive any reward for its job, and you can’t use cryptos to buy goods and services to merchants inside the country. Although, cryptos are still legal and there’s a huge volume from its citizens, who can trade them normally with companies outside the territory.

Featured image by Khusen Rustamov / Pixabay

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