In the context of increased US and European sanctions on Russian cryptocurrency use, Russia's discussion of domestic cryptocurrency trading and payment policies has global implications. If Russia liberalizes its policies, it could create a large, new market for cryptocurrencies, increasing global demand. However, this may also lead to further tensions with the West, potentially resulting in more stringent global regulations. If Russia tightens its policies, it could reduce the overall cryptocurrency market's growth potential, especially considering Russia's significant population and technological capabilities. Geopolitical uncertainties can also cause investors to be more risk - averse, leading to increased volatility in the cryptocurrency market as a whole.