Russia's Cryptocurrency Trading Volumes May Reach $46.43 Billion by Year-End

Cryptocurrency trading in Russia may reach $46.43 billion by the end of this year, according to Anatoly Popov, Deputy Chairman of the Management board of Sberbank.

In an interview with TASS ahead of the Eastern Economic Forum (EEF), Popov shared his conservative forecast for cryptocurrency adoption in Russia.

According to Finance Ministry data as of February, the daily volume of cryptocurrency transactions in Russia is around 50 billion rubles, or roughly 18 trillion rubles a year.

SberCIB Investment Research analysts estimate that only 20% of this volume, or 3.5-4 trillion rubles a year, will be traded on exchanges in the first year after legalization.