Russia's Crypto Owners Rush to Self-Custody Ahead of New Regulations
Russia is experiencing a surge in hardware wallet sales ahead of new crypto rules that take effect on September 1, 2026. According to M.Video, one of the country's largest electronics chains, there was a 107% quarter-on-quarter increase in hardware wallet units sold during Q2 2026.
This significant jump is largely attributed to the upcoming digital asset law signed by President Vladimir Putin on August 4. The new legislation introduces several constraints that will impact how Russians can buy, hold, and move crypto.
The key provisions of the law include mandatory suitability testing for non-qualified investors, an annual purchase cap of 300,000 RUB (approximately $3,800), and a 48-hour cooling-off period for transfers exceeding 100,000 RUB from licensed exchanges to non-custodial wallets.
Hardware wallet ownership remains legal under the new law, allowing users to maintain pre-existing self-custody holdings. However, domestic crypto payments are restricted, while regulated cross-border transactions are permitted.