New Poll Shows Russians Remain Undecided on Crypto Ban
While discussions continue in Russia on the fate of cryptocurrencies, a new poll gives an insight into the general opinion of residents.
The Majority of Russians Have Heard About Bitcoin
According to a study by the Russian Public Opinion Research Center (Vtsiom), 64% of Russians have heard about Bitcoin and only 19% know nothing about the cryptocurrency. Of those aware of crypto, 32% each support and oppose a ban while 33% are indifferent.
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This poll comes in light of the disagreement between the Central bank and government agencies on what to do with crypto.
While the apex bank wants the industry banned, some government bodies prefer if the space was regulated. The ministry of finance has even sent a proposed regulatory framework for the crypto industry.
With the survey, it’s easier to understand the attitude of Russians towards crypto. While there’s more awareness about Bitcoin and other assets, the reception level isn’t that very high.
Of those surveyed, 17% have a good understanding of crypto assets. The majority of young people, between 18 – 34 oppose a crypto ban. But when it comes to people aged 60 and above, only 15% don’t support the ban.
Despite Exposure to BTC, Most Russians Don’t Want to Invest in the Asset
Furthermore, 81% of respondents to the poll don’t plan to acquire crypto and only 16% want to buy. 56% of those who participated in the survey also consider Bitcoin to be a bad investment. This is much higher than the 22% who see it as a great investment tool.
Even those who understand what crypto is don’t have much financial exposure to it. 71% of respondents who have knowledge of crypto have never bought it and don’t know anyone close to them who has bought it. While 21% know a friend or family who has bought it, only 4% have actually purchased crypto.
This data is surprising given that over 17 million Russians have crypto wallets according to the Russian Association of Cryptoeconomics, Artificial Intelligence, and Blockchain. Russians have also invested over 5 trillion rubles into crypto assets.
But this survey is unlikely to have any impact on what the final decision for crypto would be in the country. Already, Russian President Vladimir Putin has urged the relevant agencies in the country to discuss and compromise on the way forward.