Russia Legalizes Crypto Trading, Sees First-Year Regulated Volume at $46.4 Billion

Russia said allowing cryptocurrency trading within a regulatory framework could lift first-year formal-market trading volume to at least 4 trillion rubles.
SberCIB Investment Research said about 20% of Russia’s annual cryptocurrency trading volume will move into the regulated market in the first year, with the total projected to rise to about 7.5 trillion rubles by 2029.
The Central Bank of Russia imposed investment limits on both non-qualified and qualified investors, while also restricting the range of tradable cryptocurrencies to Bitcoin (BTC), Ether (ETH) and Tether (USDT).

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Russia will allow cryptocurrency trading within a regulated framework, with first-year volume on the formal market forecast to reach at least 4 trillion rubles, or about $46.4 billion.

Bitcoin.com reported on Aug. 31 that Sberbank, Russia’s largest bank, expects annual trading through licensed exchanges and brokers to total 3.5 trillion to 4 trillion rubles after new cryptocurrency trading rules take effect on Sept. 1.

The Central Bank of Russia has introduced rules allowing investors to legally buy and sell cryptocurrencies through authorized intermediaries. Sberbank expects trading now conducted through over-the-counter and unofficial channels to gradually shift into the regulated market, expanding the formal sector.

Russia Legalizes Crypto Trading, Sees First-Year Regulated Volume at $46.4 Billion

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