Cryptocurrency trading in Russia is projected to generate 4 trillion rubles, equivalent to approximately $46.4 billion, in trading volume for regulated domestic exchanges during the first year following legalization. The estimate comes from a report by Sber, the country's largest bank.
Anatoly Popov, Sber’s Deputy Chairman, stated that domestic trading volumes on regulated platforms could increase to about 7.5 trillion rubles by 2029. Popov described the projection as conservative, noting that a significant portion of crypto transactions will likely remain on unregulated exchanges operating outside of organized Russian platforms.
The forecast was published ahead of new Russian crypto market regulations scheduled to take effect on Sept. 1, following a law signed by President Vladimir Putin on Aug. 4. In preparation for the framework, Russia's central bank compiled a proposed list of crypto assets for public exchange trading on Aug. 11, which includes Bitcoin, Ether, and Tether's USDT stablecoin.
Under the upcoming regulatory rules, non-qualified investors will be permitted to purchase up to 300,000 rubles worth of cryptocurrency annually through each authorized intermediary, such as a broker, exchange service, or asset manager. Meanwhile, qualified investors will not face purchase limits for crypto assets obtained through exchanges or over-the-counter markets.
