Russia Emerges as Europe’s Dominant Crypto Market Ahead of 2026 Exchange Launches
Russia's cryptocurrency transactions surged to $376.3 billion in 2024-2025, eclipsing the UK's $273.2 billion to become Europe's largest digital asset market. The country now controls 16% of the global Bitcoin hashrate, leveraging mining operations to bolster its economic influence.
The A7A5 ruble-pegged stablecoin has achieved a $500 million market capitalization—the world's largest non-dollar stablecoin—as DeFi activity in Russia grew 3.5x since mid-2023. Moscow Exchange and St. Petersburg Exchange are preparing to launch regulated crypto trading by 2026 under a new Bank of Russia framework.
Regulatory measures will categorize investors into qualified and non-qualified tiers, with restrictions on retail participation. Non-qualified investors must pass financial literacy tests before accessing select cryptocurrencies.
