Sberbank Expects Russia's Regulated Crypto Trading to Reach 4 Trillion Rubles in Year One

Sberbank expects Russia's regulated crypto trading market to reach at least 4 trillion rubles in its first year, according to Anatoly Popov, deputy chairman of the bank's executive board. According to ChainCatcher, the bank said the figure could rise to about 7.5 trillion rubles by 2029 as investors move toward the official trading system. Popov said most crypto trading volume will still occur outside regulated exchanges, while about 20% of volume in the first year, or 3.5 trillion to 4 trillion rubles annually, is expected to be executed through exchanges. The framework is set to take effect on September 1 and will allow investors to legally buy crypto assets through brokers. Under the rules, non-qualified investors may buy up to 300,000 rubles of crypto assets per year through a single licensed intermediary and must pass a risk-awareness test. Qualified investors will have a 3 million ruble investment cap. Official exchanges can currently trade only Bitcoin, Ethereum and USDT, while other altcoins will be excluded. Exchanges may complete registration by July 1, 2027.