Russia’s $650M Crypto Market Surges as Regulation Looms

* Russia's daily crypto transactions reach $650 million amid market growth. * Comprehensive crypto regulation set for launch by July 2026. On February 13, 2026, Cryptopolitan reported that Russians trade approximately $650 million in cryptocurrency daily. According to Russia’s Deputy Minister of Finance, Ivan Chebeskov, this volume translates to nearly 50 billion rubles in transactions, underscoring the widespread adoption of digital assets among millions of citizens. This activity highlights the country's booming digital asset market, which currently operates with regulatory gaps as most transactions occur outside of government oversight. To address these concerns and provide oversight, Russia plans to roll out a comprehensive legal framework for cryptocurrency between March and July 2026. The legislation will enable traditional financial institutions, such as banks and brokers, to legally handle crypto transactions for the first time. At the same time, cryptocurrency platform operators will need to secure dedicated authorizations to continue their services under the new mandates. This dual-purpose approach aims to integrate cryptocurrencies into the formal financial system while ensuring that specialized platforms adhere to regulatory standards. The framework reflects a significant shift in how Russia perceives and handles digital assets, setting the stage for increasing institutional participation and enhanced consumer protection. While daily transaction volumes have already reached substantial levels, these impending changes could further drive cryptocurrency adoption and mitigate risks tied to unregulated activities. Additionally, the regulatory shift highlights Russia’s ambitions to become a key player in the global crypto landscape, and the implications of this move could extend well beyond its borders.