Russia's Crypto Users Flock to Hardware Wallets Ahead of New Rules

Russia's retailers are selling hardware wallets at an unprecedented pace ahead of new crypto rules taking effect on September 1, 2026. M.Video, one of the country's largest electronics chains, reported a 107% quarter-on-quarter surge in hardware wallet units sold during Q2 2026.

Wildberries & Russ saw an 84% year-over-year jump in unit demand across the first half of the year, with Ledger devices accounting for approximately 40% of hardware wallet sales and Trezor capturing around 20%. The new law signed by President Vladimir Putin on August 4 introduces several constraints that will reshape how Russians can buy, hold, and move crypto.

The legislation restricts domestic crypto payments but permits regulated cross-border transactions. A transition period extends compliance deadlines to July 1, 2027, giving exchanges and intermediaries time to build out the infrastructure Russia's regulators now require.