Russia’s Deputy Finance Minister Ivan Chebeskov said at least 20 million Russians have invested in crypto products, with total holdings reaching about 3.7 trillion rubles, or roughly $44 billion. He said the assets are mainly used for foreign trade settlements, mining, trading on offshore exchanges, and savings. At the same time, Russia is moving ahead with a regulatory framework that would allow both qualified and non-qualified investors to hold and trade crypto assets on regulated domestic exchanges. The country still bans the use of crypto for everyday payments, while continuing to promote the digital ruble as a payment instrument directly supervised by the state. The report was cited by Bitcoin.com News.
Russia’s Deputy Finance Minister Ivan Chebeskov said at least 20 million Russians have invested in crypto products, with combined holdings of about 3.7 trillion rubles, or roughly $44 billion.
According to Chebeskov, those assets are used mainly for foreign trade settlements, mining, trading on overseas exchanges, and savings.
Russia is also advancing a regulatory framework that would allow both qualified and non-qualified investors to hold and trade crypto assets on regulated domestic exchanges. At the same time, crypto remains banned for everyday payments, while the country continues to push the digital ruble as a state-supervised payment instrument.
The report was cited by Bitcoin.com News.
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