Is Russia’s approved crypto list -good for investors or Bad for the free market?

[BALIK]

What do you think will be the impact of this kind of rule (positive or negative).. ?

Russians have access to all the coins and tokens that they want to have access to.

It has nothing to do with the market. Those Russians that want to trade other coins know what they do to trade them.

Russia officially legalized cryptocurrencies recently, but Russians have been trading cryptocurrencies since the inception of bitcoin.

So are you saying that this news is basically irrelevant? Because even if the report says only Bitcoin, Ethereum and stablecoins are allowed for trading, in reality people can still trade other coins anyway. Is that what you are trying to say?

Please enlighten me, because otherwise I dont think this would even become a headline if the information was completely useless or fake.

The new rules issued by Russia's central bank only apply to domestic exchanges/brokers and non professional investors. They don't apply to foreign platforms like Bybit, OKX, or Binance, or non custodial wallets. So it is fair to say that Russian investors can still access, invest in, and own any coin they want. There are no real restrictions on that, and I do not think this will have any significant impact on the market.

https://vc.ru/crypto/3085854-chto-zhdet-bybit-i-kriptobirzhi-v-rossii

[m2017]

What do you think will be the impact of this kind of rule (positive or negative).. ?

You forgot to clarify one detail: exactly "who" is affected by this situation. For the regulator, it will clearly be a positive development, since the regulator itself laid down these conditions (with its own interests in mind). For investors? I believe it’s negative; there is nothing good about such restrictions, as they "tie one's hands" and eliminate opportunities due to the extremely limited range of investable assets. Only 3 assets, eally? Are you kidding?

On one side, maybe the government is just trying to protect retail investors by allowing only coins with strong liquidity, longer track record and more stable market demand. But on the other side, this also feels very limiting. If the government decides which coins people are allowed to trade, does that already defeat the idea of a free crypto market?

I am certain that none of this has anything to do with looking out for investors, for any regulator cares primarily only about itself.

Of course it contradicts it. And the worst part is that a market subject to such restrictions will be "artificial"—constrained and incapable of organic growth.

I understand the need to protect beginners from risky tokens and pump-and-dump coins but do you think this is a positive step for crypto adoption, or is it just another way for governments to control the market ( which we hate)...?

Of course, this is merely a form of control, one that, more often than not, simply gets in the way and deprives the regulator of substantial future revenue (taxes), as such initiatives stifle the market and hold back further development and expansion.

It is not that we hate it; it is that it causes harm.

[Aanuoluwatofunmi]

All we want to see from most of this countries is their support in creating a friendly regulatory framework over Bitcoin adoption and this is the general approach we want them to have in support of the use of people in their countries, while to us all, we have to know what we wanted and also avoid having our entire assets on some of these platforms they are suggesting us to use for our Bitcoin transactions, we should not put all our bitcoin on their exchange platforms if you want to be prevented from their regulations.

[CryptopreneurBrainboss]

I understand the need to protect beginners from risky tokens and pump-and-dump coins but do you think this is a positive step for crypto adoption, or is it just another way for governments to control the market ( which we hate)...?

In the attempt to control the narrative as they always try to do, they're still bringing in publicity to the industry and introducing newer audience that'll eventually turn investors so it's a win/win situation for the industry.

Although we have to be worried about freedom been of choice being denied by the government. But at least this list lets us know something that shows some positivity that we're on their minds, they're seeing our motion  and fear our momentum and now they can't ignore the industry anymore.

Now that we have gotten their attention it's just a matter of time before the real way the market was meant rto function will be achieved. When we get the new users, we teach them what the industry is about and they'll eventually catch up with time.