Russia's Hardware Wallet Sales Surge Ahead of New Crypto Rules

Russia's hardware wallet sales have surged in 2026, more than doubling before new cryptocurrency rules take effect on September 1. According to M.Video and Wildberries, two major retailers, unit sales of hardware wallets jumped 107% and 84%, respectively, compared to the same periods last year.

The average device sold for about 7,900 rubles, down 13% from a year ago. Ledger accounted for nearly 30% of units sold through M.Video and roughly 40% of category revenue, while Trezor represented around 20% of both sales and turnover.

The new regulatory framework will create regulated cryptocurrency exchanges, brokers, and digital depositories, allowing qualified and non-qualified investors to trade through authorized intermediaries. Non-qualified retail investors will be able to buy the most liquid cryptocurrencies after passing a knowledge test, with purchases capped at 300,000 rubles per year through each intermediary.

The rules do not outlaw personal wallets, meaning investors can continue holding digital assets directly through addresses for which they control the private keys. However, transfers outside the domestic system will have to use routes permitted under the framework, including regulated intermediaries and eligible foreign institutions.