Russia Launches Regulated Crypto Trading Framework

Russia launched a regulated cryptocurrency trading framework on September 1, 2026, with the country's largest bank forecasting the new legal market could process up to 4 trillion rubles, approximately $46.43 billion, in its first year. The system allows investors to buy and trade digital assets through licensed intermediaries for the first time, though it is expected to capture only a fraction of the nation's existing crypto activity.

Sberbank Deputy Chairman Anatoly Popov shared the first-year volume forecast with the TASS news agency, citing data from the Finance Ministry. He indicated that regulated exchanges are expected to record between 3.5 trillion and 4 trillion rubles in trading volume. This projection represents roughly 20% of Russia's current estimated annual cryptocurrency transaction volume, which totals about 18 trillion rubles based on daily transactions of around 50 billion rubles. Popov expects the majority of crypto activity to remain outside the regulated system, with unregistered exchange services retaining a large market share.

The regulatory framework, overseen by the Bank of Russia, permits both qualified and nonqualified investors to participate, but with...