Holy crap, starting September 1, Russia can legally trade BTC, ETH, and USDT! Putin has signed the cryptocurrency legalization bill, and the new regulations take effect on September 1. The central bank has officially listed Bitcoin, Ethereum, and USDT as assets that can be publicly traded on exchanges. In an ideal scenario, this could bring in hundreds of billions of dollars in liquidity. Regular retail investors can buy after passing an exam, but intermediaries are capped at 300,000 rubles per year. Qualified investors also need to pass an exam but can trade more coins with no limit on the amount—and they can even access OTC markets. Cryptocurrencies can be used for cross-border settlements, but domestically, you still can’t use them to buy stuff directly. What do you guys think—bullish or bearish?