Crypto Transactions Surge to $647M Daily in Russia

Russia Sees $647 Million in Daily Crypto Transactions

• Daily crypto activity in Russia has reached approximately $647 million (50 billion rubles).
• This equates to an estimated yearly turnover of over $129 billion (10 trillion rubles), much of which is outside formal oversight.
• The Bank of Russia plans to legalize crypto transactions through existing exchanges and brokers.
• A draft bill is expected to be submitted to the State Duma in March, with approval targeted by July 1.
• Proposed regulations will classify Bitcoin and fiat-pegged stablecoins as “currency assets.”

Russia’s daily cryptocurrency transactions have surged to around $647 million, with a significant portion operating without formal oversight. The Bank of Russia seeks to regulate these activities through existing exchanges, targeting legislative approval by mid-year.