Sberbank Sees $46B Regulated Crypto Market in Russia's First Year

Russia is set to introduce its new cryptocurrency trading framework on September 1, 2026, which will allow retail investors to access selected cryptocurrencies through regulated intermediaries.

The framework will impose annual purchase limits of 300,000 rubles per intermediary for non-qualified investors, while qualified investors will have broader access without these limits.

Sberbank, Russia's largest lender, estimates that the regulated crypto market could reach 3.5-4 trillion rubles ($46.43 billion) in its first year under this framework.

This projection is based on SberCIB Investment Research estimates that around 20% of existing cryptocurrency transaction activity will shift to regulated exchanges during the first year.