Russia's largest bank predicts that under the new regulations, the first year's cryptocurrency trading volume will reach 46 billion USD

Russia's largest bank Sberbank predicts that after the new regulations come into effect, the trading volume of regulated cryptocurrency exchanges in Russia may reach 4 trillion rubles (approximately 46.4 billion USD) in the first year. Sberbank's Vice Chairman Anatoly Popov stated that this figure could grow to about 7.5 trillion rubles (approximately 87.1 billion USD) by 2029.Russian President Putin signed a law to establish a regulatory framework for the cryptocurrency market in early August, which will take effect on September 1, 2026, with some provisions coming into effect on September 1, 2027. Existing cryptocurrency exchanges will have a grace period until March 1, 2027. According to the framework, retail investors can purchase the most liquid cryptocurrencies through intermediaries with an annual limit of 300,000 rubles (approximately 3,700 USD), while qualified investors will have no restrictions.Popov stated that the bank plans to issue loans collateralized by Bitcoin, Ethereum, and USDT after approval from the central bank. Sberbank also plans to launch a cryptocurrency wallet and digital asset custody services in its Sber and Sber Investments apps by early December. The law continues to prohibit the use of cryptocurrencies for payment of goods and services within Russia but allows for foreign trade cross-border settlements between residents and non-residents.