Crypto trading in Russia is expected to spike in the next twelve months after legalization, according to the country’s largest bank. The new digital asset market regulation signed by President Vladimir Putin will take effect on Sept 1 with positive backing from stakeholders.
Russia To Record Surging Volumes
The country is anticipating a new chapter in institutional and retail crypto trading under the new guidelines. Anatoly Popov, Sberbank Deputy Chairman, outlined the trajectory over the next 12 months and three years.
Total crypto trading volumes could exceed $46.4 billion, about 4 trillion rubles, on regulated local exchanges in the first year. By 2029, the figure could hit 7.5 trillion rubles, reflecting steady growth as more institutions enter the market.
“According to Finance Ministry data as of February, the daily volume of cryptocurrency transactions in Russia is around 50 bln rubles, or roughly 18 trillion rubles a year… in the first year after legalization, around 20% of this volume, or 3.5-4 trillion rubles a year, will be traded on exchanges. This figure could rise to 4.75-5.25 trillion rubles by 2028 and to 7.5 trillion rubles by 2029.”
The law was signed on Aug 1 and remains a catalyst for renewed anticipation for government and institutions. Previously, market participants had feared blanket bans on private crypto assets, but new rules open the market through organized platforms.
 
Per the rules, qualified investors will not be capped and face no purchase limit for exchange or over-the-counter transactions. However, non-qualified traders can purchase only 300,000 rubles worth of crypto in a year through each intermediary.
Popov added that initial estimates are largely conservative, with room for growth because a large chunk of transactions are still conducted on exchanges not regulated by Russia. Stakeholders also expect the rules to gradually capture institutions rather than a full swing from September.
Under the rules, professional stakeholders have until July 1, 2027, to obtain licenses. Over the years, Russia’s crypto stance has shifted largely for political and economic reasons.
Sanctions following the Ukraine invasion led institutions to embrace blockchain technology, while the retail trader boom was also linked to global adoption. This month, authorities shut down nine unregistered exchanges as they strengthen their domestic crypto market.
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