Don’t be fooled by Russia’s sudden softening on cryptocurrencies—it’s not that simple. The central bank officials are now talking about removing restrictions for high-net-worth investors—previously, you needed $1.3 million in assets to legally touch Bitcoin, but now regular people can buy through banks. Sounds like openness? In reality, it’s a desperate move forced by sanctions.

The real purpose behind this move is to drive retail investors out of the gray area and into the regulatory spotlight. Think it’s liberalization? Actually, it’s about bringing all transactions into the banking system, where tax and intelligence agencies can monitor everything closely. Financial freedom? Wishful thinking—this is a regulatory dragnet.

Local banks have been sharpening their knives for a while. The second-largest bank, VTB, has already announced it could launch direct trading services as soon as 2026, starting with ultra-high-net-worth clients. The sickle is already out—do you really think retail investors can escape?

And it gets harsher. Kremlin think tanks have directly proposed making mining an official export industry—in their eyes, Bitcoin is a digital version of oil and gas, specifically used to earn foreign exchange and bypass sanctions. In plain terms, this thing has been turned into a national strategic tool.

Major powers never join in for belief—they’re interested in Bitcoin’s unfreezable payment capability and cross-border value. Russia is the world’s second-largest mining country; with this level of state takeover, any talk of depoliticization is nonsense.

In the short term, sure, there’s a new major buyer and increased liquidity. But in the long run? You’re participating in a market being played as a pawn by the state, where volatility and policy risk will only get crazier. It’s fine to watch the spectacle, but think carefully before putting your real money in.