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      Russia's Crypto Market Expected to Grow by 10 Million Users by 2027

      The Russian Finance Ministry has announced that the country's regulated cryptocurrency market is experiencing significant growth, with 20 million users currently holding digital assets valued at approximately 3.7 trillion rubles. Deputy Finance Minister Ivan Chebeskov revealed that the ministry anticipates an additional 10 million users will join the market by 2027, potentially positioning Russia among the largest crypto user bases globally.

      This expansion is supported by a new legal framework for digital assets that became effective on September 1, 2026. Signed into law by President Vladimir Putin in August, the legislation establishes a comprehensive regulatory regime for crypto exchanges, brokers, and custodians operating within Russia. Under these new regulations, all crypto intermediaries are required to obtain licenses, with a compliance deadline set for July 1, 2027.

      The law adopts a dual approach to cryptocurrency transactions, prohibiting domestic payments in digital assets while allowing cross-border transactions. This framework aims to provide Russian businesses and individuals with a legal avenue for international settlements. Additionally, retail investors who do not qualify as accredited investors face an annual purchase limit of 300,000 rubles per intermediary, while qualified investors are exempt from such restrictions.

      Recent data indicates that around 10 million wallets have been opened by Russians on foreign cryptocurrency exchanges. A survey conducted by Russian financial services firm Finam revealed that 85% of over 1,500 active crypto traders expressed a willingness to switch to domestic trading platforms once the necessary infrastructure is established. If the Finance Ministry's projections are realized, Russia could see approximately 30 million crypto participants, representing over 20% of its total population of around 144 million.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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