The RACIB, a group of crypto advocates in Russia, won’t give up on Russia’s crypto potential, calling president Vladimir Putin for changes in the country’s regulatory approach.
As Russia continues to delay the adoption of cryptocurrency regulations, local advocates have appealed to Russian president Vladimir Putin to change the government’s approach to regulating the market.
In the letter, the RACIB argued that Russia has been too slow to implement experimental legal regimes targeting the adoption of crypto despiteintroduced a series of legal amendments The proposed amendments would give a “sea of choice” for Russian enforcement authorities to pressure the local crypto community, the RACIB’s executive director Alexander Brazhnikov told Cointelegraph.
The RACIB has ultimately called for Putin to put an end to Russia’s hostile regulatory stance on crypto, as it prevents local businesses from fully using the potential of crypto and would potentially lead the country to “direct financial losses.” The RACIB stated:
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