Russia's Crypto Trading Law Takes Effect with $46B Forecast
Russia's cryptocurrency market law took effect on September 1, introducing a regulated framework for intermediaries including crypto exchanges and digital repositories. Sberbank Deputy Chairman Anatoly Popov forecasts that regulated exchange trading could reach $46.43 billion in the first year.
The forecast is based on an initial migration of about one-fifth of the country's estimated crypto-transaction activity, which Sberbank puts at roughly 50 billion rubles a day or around 18 trillion rubles annually.
Under the new law, qualified investors have access to trading without a monetary limit, while non-qualified investors may buy only the most liquid cryptocurrencies after testing and are subject to an annual limit of 300,000 rubles per intermediary.