Russia Crypto Market Hits $44 Billion, User Base Nears 20 Million

Russia's cryptocurrency user base has neared 20 million people, according to recent data. The total value of digital assets held by Russian users is estimated at over $44 billion.

The finance ministry expects the market to grow further after the start of its incorporation into the formal system, with a projected 10 million new users added in 2027 alone.

Russian residents hold more than 10 million cryptocurrency wallets overseas, making it difficult to compile an exact user tally. The government is seeking to bring assets and users that remain on foreign infrastructure into its domestic regulatory system.