The post Russia Flags $129B in Annual Crypto Activity appeared on BitcoinEthereumNews.com.

Russian officials estimate $129B in annual crypto turnover outside formal oversight. The central bank supports limited legalization with strict retail caps. Sanctions pressure and EU scrutiny accelerate Russia’s regulatory rethink. Russian officials say citizens move more than $129 billion in crypto each year outside formal oversight, prompting renewed calls for regulation. At the Alfa Talk conference, Deputy Finance Minister Ivan Chebeskov highlighted the scale of adoption. He said Russian citizens generate roughly 50 billion rubles in daily crypto turnover. That equals about $648 million per day and more than 10 trillion rubles annually. In dollar terms, the figure approaches $129.4 billion each year. Chebeskov stressed that most of this activity flows through unregulated channels. He argued that authorities must bring the market into a formal framework rather than allow it to operate beyond government visibility. He emphasized that millions of Russian citizens hold digital assets for savings and transactions. Officials view this scale as too large to ignore. Sanctions Pressure and EU Scrutiny The surge in crypto usage coincides with ongoing Western sanctions against Russia. The European Union has raised concerns about digital assets helping Russia bypass financial restrictions. According to a recent report by the Financial Times, EU officials have discussed banning cryptocurrency transactions involving Russia as part of future sanctions packages. Russian policymakers now weigh domestic regulation against external geopolitical pressure. The government appears to recognize that banning crypto outright would push activity further underground. Instead, officials signal a preference for controlled legalization. Central Bank Softens Its Stance Russia’s central bank previously supported strict limitations or outright bans on crypto use. However, recent policy proposals indicate a shift. In December, the central bank released a draft plan allowing both qualified and non-qualified investors to access certain crypto assets. The proposal introduces limits for retail participants. Non-qualified investors could…

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Filed under: News - @ February 16, 2026 2:29 pm