Russia's daily crypto turnover is over $650 million, Ministry of Finance says

Russia's Ministry of Finance estimates the country's daily cryptocurrency turnover at 50 billion rubles (approximately $650 million), with annual activity exceeding 10 trillion rubles ($130.5 billion). Deputy Finance Minister Ivan Chebeskov highlighted that this significant volume operates outside the regulated zone. Consequently, government officials and the Bank of Russia are actively pushing for legislation to regulate the crypto market, hoping for passage during the State Duma's spring session. The proposed rules aim to allow licensed infrastructure, like the Moscow Exchange (MOEX), to offer crypto services, including spot market entry and new futures contracts. This move seeks to capture commissions currently paid to global platforms, estimated at around $15 billion annually by MOEX's Supervisory Board Chairman. Russia is considered Europe's largest crypto market, having received $376.3 billion in crypto between July 2024 and June 2025.

(Source：CoinDesk)