Russia's Regulated Crypto Market Forecasted to Reach $87 Billion by 2029
Russia's regulated cryptocurrency market is expected to grow significantly in the coming years. According to Anatoly Popov, Deputy Chairman of Sberbank, Russia's largest state-owned bank, the country's regulated crypto trading volume may reach between $46.43 billion and $87.06 billion by 2029. This estimate is based on data from the Ministry of Finance, which shows that daily crypto transactions in Russia amount to around 50 billion rubles, totaling approximately 18 trillion rubles annually.
Sberbank believes that only a fraction of this total will initially transition to regulated platforms once the appropriate legal framework is in place. The bank estimates that about 20% of the total, equivalent to 3.5 to 4 trillion rubles, could initially move to regulated exchanges. This initial volume is expected to grow as domestic infrastructure matures.
The regulatory structure is designed to encourage a staged rollout, potentially reducing risks for both investors and the wider financial system. The law gives professional market participants until July 1, 2027, to obtain necessary licenses. As a result, full-scale adoption of regulated crypto trading is unlikely until after this transition deadline.