Russia's Crypto Boom: Regulated Exchanges to See $46 Billion in Revenue
Russia's new crypto regulations are set to bring in significant revenue for regulated exchanges. Estimates from Sber, Russia's largest bank, predict that domestic crypto trading volumes on regulated exchanges could reach 4 trillion rubles ($46.4 billion) in the first year after legalization.
This forecast was made by Anatoly Popov, Deputy Chairman of Sber, who attributed the conservative estimate to the fact that many crypto transactions will continue to be conducted through unregulated exchanges. This means that a large share of trading volume is expected to bypass organized platforms.
The new regulations, which come into effect on September 1, aim to establish a clear framework for cryptocurrency trading in Russia. The rules include a proposed list of eligible assets, including Bitcoin, Ether, and USDT, as well as limits on purchases for non-qualified investors.