Russia plans crypto rules as ₱37.54 billion ($648 million) daily volume sparks regulation
Russians are spending ₱37.54 billion ($648 million) on crypto every single day, according to new data from the country's Finance Ministry. The ₱7.53 trillion ($130 billion) annual volume is pushing Moscow to fast-track regulations that could reshape the entire market.
₱37.54 billion ($648 million). That's how much Russians spend on crypto every single day, according to the country's Finance Ministry.
The ministry calculated the figure using data from Rosfinmonitoring's Transparent Blockchain platform. All of it happens in unregulated spaces beyond government control. Deputy Finance Minister Ivan Chebeskov said millions of Russian citizens are involved in crypto trading, representing trillions of rubles worth of purchases and savings. The crypto derivatives and blockchain-powered financial instruments market alone has grown beyond ₱753.17 billion ($13 billion).
Moscow is now racing to regulate the massive market. Vladimir Chistyukhin, First Deputy Chairman of the Russian Central Bank, said lawmakers would approve new crypto regulations during the State Duma's spring session, with a scheduled vote by the end of June 2026. Both the government and central bank now back the push for oversight. The Central Bank plans to compile an approved list of cryptocurrencies likely including Bitcoin, Ethereum, Solana, and Toncoin.
Retail investors will face a 300,000 ruble annual purchase cap (approximately ₱191,189 ($3,300) to ₱231,744 ($4,000)) and mandatory risk-awareness tests before trading. Regulations will focus mainly on exchanges and impose penalties for platforms lacking operating permits. Moscow Exchange and St. Petersburg Exchange both confirmed they're ready to launch crypto trading platforms once regulations take effect on July 1, 2027. Multiple Russian banks said they were ready to provide crypto-related services once legislation rolls out.
The regulatory push comes as Russia-linked sanctions evasion hit new highs. TRM Labs data shows the ruble-pegged stablecoin A7A5 processed ₱4.17 trillion ($72 billion) in sanctions activity during 2025, while the A7 wallet cluster moved ₱2.26 trillion ($39 billion). Illicit crypto volume jumped 145% year-over-year from 2024 to 2025, reaching ₱9.15 trillion ($158 billion). Nearly all inflows to sanctioned entities in 2025 used stablecoins rather than non-stable cryptocurrencies, with 95% coming through stablecoin channels.
Over 20 million Russian citizens now use digital assets, with Chebeskov noting that cryptocurrency adoption continues accelerating across the country.
This article was written based on reporting from Dlnews.
