Sberbank Predicts $46.4 Billion in Regulated Crypto Trading Volume in First Year Under New Russian Law

Huo Xing Finance reports that Russia’s largest bank, Sberbank, predicts that the first-year trading volume of regulated cryptocurrency exchanges in Russia could reach 4 trillion rubles (approximately $46.4 billion) after the 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 into law in early August a framework to regulate the cryptocurrency market, which will take effect on September 1, 2026, with certain provisions coming into force on September 1, 2027. Existing cryptocurrency exchanges are granted a grace period until March 1, 2027. Under the framework, retail investors are capped at 300,000 rubles (approximately $3,700) annually for purchasing the most liquid cryptocurrencies through intermediaries, while qualified investors face no such limits. Popov said the bank plans to issue loans collateralized by Bitcoin, Ethereum, and USDT after receiving approval from the Central Bank. Sberbank also intends to launch cryptocurrency wallets and digital asset custody services within its Sber and Sber Investments apps by early December. The law continues to prohibit the use of cryptocurrencies for payment of goods and services within Russia but permits cross-border settlements for foreign trade between residents and non-residents.