Russia's Regulated Crypto Market Set for $46 Billion Trading Volume

Russia is set to open its regulated cryptocurrency market, which could see substantial trading activity as banks and brokers prepare to bring more crypto transactions into domestic financial infrastructure.

Sberbank expects regulated Russian exchanges to process between 3.5 trillion and 4 trillion rubles during the first year of the new framework, equating to around $46 billion in trading volume by next year.

The framework allows both qualified and ordinary investors to access cryptocurrency through regulated intermediaries, with non-qualified investors facing a 300,000-ruble annual purchase limit per intermediary and required to pass a knowledge test. Qualified investors can trade without this cap.

The new rules do not make Bitcoin or USDT legal tender for ordinary domestic payments, but instead focus on building regulated infrastructure around crypto investment, custody, and selected cross-border uses.