According to CoinMeta, Russia signed a new "Digital Currencies and Digital Rights Law" on August 4th. Although the country is about to open up a regulated market for digital assets, a survey conducted by Rambler & Co revealed that nearly 70% of Russians are unable to identify the practical reasons for using cryptocurrencies. The survey found that 69% of respondents stated that there were no personal cases of using cryptocurrencies after legalization; only 8% mentioned using them for paying foreign purchases, 4% cited long-term investment and diversification of savings, and 6% referred to business transfers and transactions. The survey also showed that 54% of respondents knew almost nothing about how cryptocurrencies work, and 23% believed that fragmented and contradictory information made it difficult to understand the field. Although 52% said they did not use cryptocurrencies and could not determine how legalization would affect their lives, 22% preferred a regulated market over one that remained in the shadows. The main provisions of the law will come into effect on September 1st, and existing companies will have a transition period until July 1, 2027, after which transactions must be conducted through licensed intermediaries.