Russia’s Crypto Market Hits 50B Rubles Daily as Regulation Push Intensifies
Russia's cryptocurrency market is experiencing explosive growth, with daily trading volumes reaching 50 billion rubles ($550 million). Deputy Finance Minister Ivan Chebeskov revealed at the Alfa Talk conference that millions of citizens now actively participate in crypto transactions, with annual turnover exceeding 10 trillion rubles. Most activity remains outside regulated channels, signaling crypto's transition from niche to mainstream in Russia.
The Bank of Russia has proposed a regulatory framework set for implementation by late 2025. The plan WOULD legalize crypto transactions through existing financial infrastructure while maintaining investor protections. First Deputy Chairman Vladimir Chistyukhin anticipates legislative approval during the State Duma's spring session, marking a pivotal moment for Russia's digital asset ecosystem.
