Russians spending $648 million on crypto every day, says finance ministry

Russia’s finance ministry says citizens are carrying out cryptocurrency transactions worth roughly $648 million every day, highlighting the rapid growth of digital asset adoption across the country.

Deputy Finance Minister Ivan Chebeskov told reporters that crypto activity in Russia continues to expand, with millions of people now involved in trading. He noted that these transactions represent trillions of rubles in savings and purchases, and annual volumes have already surpassed $130 billion. However, most of this activity is taking place in unregulated environments, beyond the government’s direct oversight.

Authorities in Moscow are now looking to accelerate crypto regulation, especially as the value of crypto derivatives and other blockchain-based financial instruments has exceeded $13 billion.

Plans to fast-track regulations

Vladimir Chistyukhin, First Deputy Chairman of the Russian central bank, said lawmakers are expected to pass new crypto regulations during the State Duma’s upcoming spring session. He added that both the government and the central bank now support a regulated framework for the industry.

According to Chistyukhin, the proposed rules will include a transition period, allowing market participants to secure licenses, establish internal compliance systems, and legalize their operations within the financial sector.

The new legislation will primarily target crypto exchanges and introduce penalties for platforms that operate without proper authorization.

The finance ministry based its estimates on data from the anti-money-laundering agency Rosfinmonitoring’s Transparent Blockchain system.

Meanwhile, executives from the Moscow Exchange, the country’s largest stock market, said they plan to enter the crypto space as well. The exchange and several major Russian banks have indicated they are prepared to offer crypto-related services once the new regulations are implemented.

Market update

• Bitcoin has slipped nearly 1% over the past 24 hours, trading around $68,991.
• Ethereum has fallen about 3% during the same period, priced near $1,999.

Voice Of Osiz

At Osiz, we view Russia’s accelerating crypto adoption as a strong indicator of the global shift toward regulated digital asset ecosystems. The reported surge in transaction volumes highlights how mainstream cryptocurrency usage has become, even in markets transitioning from unregulated frameworks. We believe that structured regulations, licensing models, and institutional participation will strengthen transparency and long-term stability in the industry. As governments move toward compliance-driven environments, exchanges and financial institutions must adopt scalable, secure, and regulation-ready platforms. This is a pivotal moment for innovation in exchange infrastructure, blockchain monitoring, and digital asset services. The entry of traditional stock exchanges and banks further signals the merging of conventional finance with decentralized technology. At Osiz, we see this evolution as an opportunity for businesses to build compliant, future-ready crypto solutions that align with emerging global standards.

Source: DLNews