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

Sberbank Deputy Chairman of the Executive Board Anatoly Popov said Russia's regulated crypto trading is expected to reach at least 4 trillion rubles, or $46.43 billion, in its first year. According to Odaily, the bank expects the figure to rise to about 7.5 trillion rubles, or $87.06 billion, by 2029 as investors move to the official trading system.Popov said most crypto trading volume will still take place outside regulated exchanges, while about 20% of first-year volume, or 3.5 trillion to 4 trillion rubles a year, will be completed through exchanges. The framework is set to take effect on September 1 and will allow investors to legally buy crypto assets through brokers.Non-qualified investors will be able to buy up to 300,000 rubles of crypto assets a year through a single licensed intermediary after passing a risk-awareness test, while qualified investors will have a 3 million ruble limit. Official exchanges will initially be allowed to trade only Bitcoin, Ethereum and USDT, with other altcoins excluded. Exchanges may complete registration by July 1, 2027.