Russia records $647M in daily crypto transactions, says deputy finance minister

Russia's Deputy Finance Minister, Ivan Chebeskov, announced at the Alfa Talk conference that daily cryptocurrency activity in the country has reached about $647 million (50 billion rubles), estimating yearly turnover to exceed $129 billion (10 trillion rubles), much of which is currently unregulated. Lawmakers are working to introduce regulations during the State Duma’s spring session, aiming for approval by July 1 to bring exchanges under regulatory supervision. This push for regulation follows an acceleration in digital asset adoption after Western sanctions restricted traditional financial access, leading Russia to become Europe's largest crypto market by volume. Proposed rules would classify Bitcoin and fiat-pegged stablecoins as "currency assets," allowing licensed institutions to offer services while penalizing unlicensed operators.

(Source：Crypto Briefing)