First Disclosure of Russian Crypto Wallet Figures
On June 3, TASS reported that Russian Deputy Finance Minister Ivan Chebeskov told the St. Petersburg International Economic Forum (SPIEF) that, based on discussions with some foreign cryptocurrency exchanges, Russian citizens have opened approximately 10 million cryptocurrency wallets on overseas crypto infrastructure. SPIEF is a major annual economic dialogue platform in Russia, and the release of this estimate drew attention both inside and outside the venue.
Chebeskov noted that the number has not yet been finally confirmed, but it is already sufficient to reflect the active participation of Russian citizens in crypto trading and usage. Attendees at the forum expressed keen interest in the scale of this user base.
He added that because many wallets exist on offshore platforms, it is currently very difficult to calculate the total amount of funds held by Russian citizens in cryptocurrencies. This poses a challenge for authorities seeking to obtain a precise count of national crypto wealth.