50 Billion Rubles Daily: Why Russia Is Rushing to Regulate Crypto Now

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• Russia estimates nearly $650M in crypto trades occur daily
• Officials want regulation passed as early as the spring session
• Sanctions concerns are accelerating the push for oversight

Russia is accelerating efforts to regulate its crypto market after officials revealed that digital asset trading inside the country now reaches roughly 50 billion rubles per day. The figure, highlighted by Deputy Finance Minister Ivan Chebeskov, underscores both rising adoption and growing concern over the lack of oversight.

Speaking at the Alfa Talk conference, Chebeskov said millions of Russians are already using crypto for savings and transactions. With an estimated annual turnover exceeding 10 trillion rubles, authorities worry that most activity is taking place beyond formal supervision.

Regulators Seek Faster Legislative Action

Both the finance ministry and the central bank are urging the government to move quickly on a legal framework. According to reporting from RBC, officials want regulations introduced as early as the spring legislative session.

Central bank deputy chairman Vladimir Chistyukhin said the goal is to legalize the sector while giving businesses time to obtain licenses and meet compliance standards. The proposal would allow broader crypto participation but impose limits on smaller investors, while excluding privacy-focused coins entirely.

This marks a notable shift from earlier proposals that considered banning cryptocurrencies outright. Instead, regulators now appear focused on oversight and controlled access.

Sanctions Pressure Adds Urgency

Crypto adoption in Russia has surged as the country navigates Western sanctions. Policymakers in the European Union have voiced concerns that digital assets could help bypass financial restrictions. A recent report by the Financial Times suggested EU officials are considering stricter measures targeting crypto transactions linked to Russia.

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These geopolitical pressures are likely accelerating Moscow’s regulatory push. By bringing crypto activity into a supervised framework, officials may hope to maintain financial stability while reducing risks tied to illicit use.

Balancing Growth With Oversight

Russia’s approach reflects a broader global trend: governments are moving from resistance to regulation as digital assets gain mainstream traction. The proposed framework would cap annual holdings for non-qualified investors while allowing institutional participants wider access.

If adopted during the State Duma’s spring session, the legislation could mark a turning point for Russia’s crypto market—shifting it from an informal economy toward a regulated financial sector.

Russia’s crypto boom is forcing policymakers to act. With hundreds of millions of dollars changing hands daily, officials see regulation as essential to bring transparency, manage risk, and legitimize the market. Whether new rules can balance innovation with control will determine how the country’s digital asset ecosystem evolves in the coming years.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.