Russia Aims for Crypto Boom with 10M New Users by 2027
The Finance Ministry of Russia projects that 10 million new crypto users will join the market by 2027. This prediction is based on the assumption that the current informal market structure will shift towards a more formalized legal system. According to Deputy Finance Minister Ivan Chebeskov, approximately 20 million Russians already hold about 3.7 trillion rubles (~$44 billion) in crypto.
The Bank of Russia aims to launch a new crypto legal framework by the end of 2026. This development is expected to bring about stronger adoption and regulatory clarity for cryptocurrency and decentralized finance (DeFi) activities in the country.
Chebeskov noted that users are currently split between Russian and foreign platforms, but expect most users to eventually use Russian platforms. The Finance Ministry sees this shift as an opportunity for increased growth and adoption of cryptocurrencies in Russia.