Russia’s Crypto Trading Volume Expected to Reach $46.4 Billion Post-Legalization
- Cryptocurrency trading in Russia is projected to generate 4 trillion rubles ($46.4 billion) for regulated exchanges in the first year after legalization.
- By 2029, domestic crypto trading volumes could grow to approximately 7.5 trillion rubles.
- A significant portion of transactions may still occur on unregulated exchanges, limiting the growth of organized platforms.
- New regulations will take effect on September 1, following a law signed by President Vladimir Putin on August 4.
- The central bank has proposed a list of crypto assets for public trading, including Bitcoin, Ether, and Tether’s USDT stablecoin.
- Non-qualified investors can purchase up to 300,000 rubles worth of cryptocurrency annually through intermediaries.
These developments mark a significant step in Russia’s approach to cryptocurrency regulation, aiming to formalize the market and enhance investor protection.
With an expected initial trading volume of $46.4 billion, Russia’s regulated exchanges are set for substantial activity as new laws come into effect.(Source)
