As a citizen of this country, I can say that this situation does not look so good. Unfortunately we have very weak law Institute. 90% of laws are aimed at making a profit... to formally increase the budget, in fact- get into the pockets of certain people.
The laws do not take into account the interests of all market players, which leads to deterioration in the overall situation.
Of course this situation will have a positive impact on the world market of bitcoin. But locally, the majority of bitcoin holders in Russia will go underground.
For example, the basis of this law is the term that bitcoin is not a currency, it is a product/item. No one here (at the state level) doesn't want to delve into the intricacies of the technology of the blockchain. In the end we get a law that will regulate only the purchase and sale of cryptocurrencies, the state just will get % for fictitious market regulation.
@natord & @jrcornel I'm no expert but think that Russia specifically is calling Bitcoin a "product or commodity" is a very interesting approach regarding regulation because as I understand things, it's not common place to "tax" or charge a fee on a currency.
I believe this is one of the reasons the USA has been slow to take any overt/direct actions regarding Bitcoin regulation, although I believe there most likely have been covert involvement/activities done by certain 3 letter agencies ( plausible deniability ) to undermine Bitcoin & other alt coins.
I'd be very curious of your personal thoughts & opinions on the benefits/disadvantages of regulating Bitcoin as a product/commodity vs regulating Bitcoin as a currency...
Thank You Again for Your comments... Have a Great Week !!