Russia’s finance ministry estimates that cryptocurrency turnover in the country has reached around 50bn roubles ($650mn) per day, showing the massive scale of activity taking place domestically ahead of planned legislation to regulate the sector.
Russia Daily Crypto Turnover Hits $650mn as Spring Regulation Looms
16 February 2026 - 10:32 CET
By Sandmark staff
Deputy finance minister Ivan Chebeskov said the volumes point to a market involving millions of citizens and more than 10tn roubles in annual turnover that currently sits outside the formal regulatory perimeter, according to the Ministry of Finance.
The comments come as lawmakers prepare to consider a draft framework in the spring session that would bring crypto transactions into Russia’s existing financial infrastructure.
Surging domestic crypto activity
Speaking at the Alfa Talk industry event, Chebeskov said the daily turnover of about 50bn roubles translates into more than 10tn roubles a year circulating in digital assets.
He said the figures reflect sustained growth in the use of cryptocurrencies for savings and transactions.
Previous ministry assessments had already pointed to trillions of roubles held by citizens in crypto assets, he added. This latest estimate provides one of the clearest official indications of the market’s current scale.
Chebeskov said the government is working to finalize a legislative package and expects progress during the spring session of the State Duma. He said the aim is to create effective legal mechanisms for the use of digital currencies.
Separately, Central Bank of Russia (CBR) First Deputy Chairman Vladimir Chistyukin said the creation of a rouble stablecoin is under review despite current restrictions, as other countries move to issue their own central bank digital currencies (CBDC), according to TASS.
Spring regulation timeline
At the end of 2025, the CBR outlined a concept for regulating crypto transactions through licensed exchanges and brokers operating within the country’s existing infrastructure. The approach would allow both qualified and non-qualified investors to participate, subject to limits.
Under the proposal, existing financial institutions would not require separate crypto licences, though additional requirements are expected for exchanges and intermediaries. Liability measures are also planned for illegal market activity.
Russian financial institutions have signalled readiness to enter the crypto market once regulation is clarified. Officials say formalizing the sector would allow domestic venues to compete with offshore platforms and bring a large share of trading activity into a supervised environment.
