No, Russia did not just lift its ban on domestic crypto use
A fake news story circulated today about Russia’s supposed embrace of bitcoin mining and crypto payments. According to excited social media posts, after the lower house of Russia’s legislature passed a bill, Russia “embraces crypto,” “formally legalizes cryptocurrencies,” “has approved a bill on cryptocurrency mining,” and will “legalize bitcoin and crypto as a foreign currency.” The news was barely — if at all — true. But this time, the fake news wasn’t Russia’s fault. LETS GET READY TO RUUUUUMMBBLLEEE. https://t.co/w4iCFvb0UH — Tyler (@TylerDurden) July 30, 2024 Everyone was very excited about Russian crypto news that didn’t happen. Read more: No, Saudi Arabia isn’t ditching the dollar for Ripple in its oil trades The doctored media were not a purposeful, Kremlin misinformation campaign . Instead, the public simply doesn’t understand Russia n law or the Kremlin’s long history of making ceremonial or vacuous announcements regarding crypto use. Wha...