Russia Sees Hardware Wallet Sales Soar Ahead of New Crypto Rules

Russia is experiencing a surge in demand for hardware crypto wallets as new rules on cryptocurrency approach. According to data from two major retailers, M.Video and Wildberries, unit sales of hardware wallets more than doubled in the first half of 2026.

M.Video reported a 107% increase in unit sales in the second quarter compared to the first quarter, with sales by value increasing 92%. Meanwhile, Wildberries recorded an 84% rise in unit sales in the first half of this year compared to the same period last year, with sales value up 60%.

Hardware wallets store private keys on a dedicated device, reducing exposure risk. While Russian law does not ban non-custodial wallets, it bars withdrawals from digital depositories to personal wallets until July 1, 2027.