Russia Sees Hardware Wallet Sales Spike Ahead of Digital-Asset Regulation Rollout

Russia's digital-asset market is experiencing a surge in hardware wallet sales ahead of new regulations set to take effect in September.

The growth can be seen at M.Video, a Russian electronics retailer, where second-quarter hardware wallet sales rose by 10.7% compared to the previous quarter, with a significant increase in sales value of 92%. Another retailer, Wildberries, also reported increased sales.

The uptick is attributed to Russia's upcoming digital-asset regulatory framework, which will restrict direct withdrawals from digital-asset custodians to personal wallets starting September. However, there's a grace period through July 1, 2025.