Russia's Regulated Crypto Market Expected to Reach $46.6 Billion in First Year

Russia's newly legalized cryptocurrency market is expected to process up to 4 trillion rubles ($46.6 billion) in trading volume during its first year, according to projections from Sberbank.

The estimate comes as a comprehensive regulatory framework for digital asset trading takes effect on September 1.

Anatoly Popov, Sberbank's deputy chairman, said the projection draws on Finance Ministry data showing that daily cryptocurrency transactions in Russia currently run at approximately 50 billion rubles, translating to roughly 18 trillion rubles ($209.8 billion) annually.

The bank estimates that only about 20% of this existing activity will migrate to regulated exchanges during the first year after legalization, with figures potentially climbing to between 4.75 trillion and 5.25 trillion rubles by 2028 and approximately 7.5 trillion rubles ($87.4 billion) by 2029.