Russia's Regulated Crypto Market Eyes $46 Billion First-Year Hurdle

Russia's regulated crypto market is expected to boom in its first year of operation, according to Anatoly Popov, vice president of Sberbank. The bank predicts that regulated exchanges will record at least $46.43 billion in crypto trading volume within the first year, with a potential rise to $87.06 billion by 2029.

Additionally, Russia's central bank plans to allow investors to legally purchase crypto assets through brokerages starting on September 1. Non-qualified investors will have an annual limit of $3,800 for buying crypto assets through a single licensed intermediary. Currently, official exchanges are only authorized to trade Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).