Russia's Largest Bank Predicts First-Year Crypto Trading Volume of $46 Billion Under New Regulations

Sberbank, Russia's largest bank, predicts that regulated cryptocurrency exchanges in Russia could see first-year trading volume of 4 trillion rubles (approximately $46.4 billion) after new regulations take effect. Anatoly Popov, Deputy Chairman of Sberbank, stated that this figure could grow to approximately 7.5 trillion rubles (about $87.1 billion) by 2029. Russian President Vladimir Putin signed a law establishing a regulatory framework for the cryptocurrency market in early August, which will take effect on September 1, 2026, with some provisions effective September 1, 2027. Existing cryptocurrency exchanges enjoy a grace period until March 1, 2027. Under the framework, retail investors are capped at 300,000 rubles (approximately $3,700) per year for purchasing the most liquid cryptocurrencies through intermediaries, while qualified investors face no limits. Popov stated that the bank plans to issue loans collateralized by Bitcoin, Ethereum, and USDT after central bank approval. Sberbank also plans to launch crypto wallets 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 payments of goods and services within Russia but allows cross-border settlements in foreign trade between residents and non-residents.