Russia's Crypto Rules Spark Hardware Wallet Demand Surge
Russia's hardware wallet sales have more than doubled ahead of new rules that will bring domestic crypto trading under tighter state supervision from September 1, 2026.
M.Video, a Russian electronics retailer, reported that unit sales of hardware wallets rose 107% in the second quarter compared to the first quarter, while revenue from the category increased 92% over the same period.
The new framework creates a heavily supervised market for regulated intermediaries while preserving the technical ability to hold cryptocurrency independently.
Russian retail investors will face a ₽300,000 annual purchase limit per intermediary and must complete a knowledge test before buying cryptocurrencies. Qualified investors will also need to pass a test but will be permitted to trade cryptocurrencies without the same monetary ceiling.