Crypto Regulation isn't a priority for Russia, Russian Prime Minister Said.

The Russian government is not thinking of regulating the cryptocurrency markets. Crypto trade may start again in the nation.

Many industries have been appealing the Russian government to formulate laws to operate the market for digital assets because of the regulatory uncertainty of cryptocurrency. It has become difficult for firms to do business. However, those people can do business in Russia anytime soon. Medvedev said in a legal conference in St Petersburg that formulating digital asset regulations “is no longer a priority for the state,” adding:

“Nowadays, the popularity of cryptocurrency has decreased, and regulatory issues may not be so relevant.”

However, Medvedev did not say that the lawmakers are entirely uninterested in cryptocurrencies. He noted that trading in the digital asset markets could go up again. If and when that happens, the regulators will renew their interest towards cryptocurrencies.