Russia's Regulated Crypto Market Set for $46B Boost

Russia's cryptocurrency market is expected to reach $46.4 billion in its first year of circulation, according to a report by SberCIB Investment Research.

The estimated trading volume ranges from 3.5 trillion to 4 trillion rubles at the end of the first year, with the upper bound being 4 trillion rubles.

Sberbank Deputy Chairman Anatoly Popov stated that this estimate assumes a small portion of Russia's existing cryptocurrency market shifts to the regulated legal segment.

The Finance Ministry estimates that cryptocurrency turnover in Russia totaled 50 billion rubles per day, or 18 trillion rubles per year.