Bitcoin’s Future According to Anatoly Aksakov
Anatoly Aksakov, a prominent Russian legislator known for his influence on cryptocurrency regulations in the nation, expressed his belief that Bitcoin is bound to falter eventually. In an interview with Russia’s Parliamentary Gazette, Aksakov characterized Bitcoin as a mere trend rather than a viable currency, stating that its valuation is primarily fueled by speculation instead of sound economic principles.
Market Context and Skepticism
Aksakov’s comments, which gained considerable traction on social media, were made against the backdrop of a turbulent crypto marketplace following a significant downturn earlier in 2026. He reiterated his skepticism regarding Bitcoin’s viability as a currency while highlighting that Russia continues to impose restrictions on the use of digital currencies for everyday transactions.
In this ongoing discussion, some analysts projected that Bitcoin prices might plummet to approximately $40,000 within the next year. Aksakov, however, focused less on the immediacy of trading practices among Russians and more on the cryptocurrency’s ability to sustain itself in the long run.
Regulatory Developments
Despite his critical perspective on Bitcoin’s core value, Aksakov’s government is actively developing a comprehensive regulatory framework for cryptocurrencies, with implementation set for July 1, 2026. This initiative indicates a cautious approach to allowing crypto transactions within a controlled environment, while still prohibiting its use in domestic payments and classifying digital currencies as assets similar to foreign exchange.
Banking Innovations
Further exemplifying this evolving landscape, Sberbank, the largest bank in Russia, announced plans to offer loans backed by cryptocurrency for business clients and expressed readiness to collaborate with the central bank as new regulations emerge.
