Russia Set To Launch Crypto Trading On Major Global Exchanges by 2026

TLDR

• Russia’s crypto transactions hit $376.3B in 2024-2025, surpassing the UK’s $273.2B, making it Europe’s largest market.
• Russia controls over 16% of the global Bitcoin hashrate, contributing to its growing economic impact through mining.
• The A7A5 ruble-pegged stablecoin reached a $500M market cap, becoming the world’s largest non-dollar stablecoin.
• Russia’s crypto market expansion is driven by a 3.5x increase in DeFi activity since mid-2023, signaling rising investor interest.

Russia is making significant strides toward integrating cryptocurrencies into its financial markets. Major exchanges like the Moscow Exchange (MOEX) and St. Petersburg Exchange are preparing to launch regulated crypto trading by 2026. This shift comes after the Bank of Russia outlined a regulatory framework that will pave the way for cryptocurrencies to be traded legally in the country. As Russia positions itself as a key player in the global cryptocurrency market, its emerging crypto landscape promises to bring new opportunities for both investors and businesses.

Regulatory Framework and Investor Classification

Russia’s new regulations will separate investors into two categories: qualified and non-qualified. Non-qualified investors will face limits on the cryptocurrencies they can buy and the amount they can invest. These investors must also pass a basic knowledge test to ensure they understand the risks of the market. The regulations aim to protect inexperienced investors from the volatility associated with cryptocurrencies.

Qualified investors, on the other hand, will not face purchasing limits. They will be allowed to invest freely, though they must prove their understanding of cryptocurrency risks. However, they will be banned from purchasing certain cryptocurrencies that hide transaction details, such as anonymous tokens. This distinction ensures that more experienced investors can access broader opportunities.

Even with these regulations, the Russian government will continue to prohibit the use of cryptocurrencies for domestic payments. Payments will remain mandatory in rubles, meaning cryptocurrencies cannot replace the national currency for everyday transactions. This policy aims to maintain control over the domestic financial system while allowing for controlled crypto investments.

Russia’s Expanding Role in the Global Crypto Market

Russia has become a significant player in the global cryptocurrency market. In the period between July 2024 and June 2025, the country recorded over $376 billion in crypto transactions. This is more than the United Kingdom’s total of $273 billion, making Russia the largest crypto market in Europe. This rise in transaction volume reflects the growing interest in digital assets in Russia.

The growth of the Russian crypto market is also tied to the success of the A7A5 stablecoin. This ruble-pegged cryptocurrency has seen a market capitalization of $500 million, despite facing Western sanctions. A7A5 is now the largest non-dollar stablecoin in the world, highlighting Russia’s increasing influence in the global crypto ecosystem.

Russia’s involvement in decentralized finance (DeFi) has also seen significant growth. In early 2025, DeFi transactions surged eightfold, and they have since stabilized at three and a half times the baseline levels seen in mid-2023. This shift reflects growing confidence in decentralized systems, which are gaining popularity as alternatives to traditional finance.

Impact of Crypto Mining on Russia’s Economy

Crypto mining plays a crucial role in Russia’s economic landscape. Russia is one of the largest producers of Bitcoin globally, accounting for over 16% of the world’s Bitcoin hashrate. The revenue generated from mining contributes to the national economy, strengthening the ruble and positioning Russia as a key player in the global digital asset sector.

However, much of Russia’s crypto mining takes place in gray areas, with illegal mining operations causing financial losses. These illegal activities cost the country billions of rubles in lost tax revenue and stolen electricity. The government has been working to address these challenges by implementing regulatory measures.

In November 2024, Russia officially legalized cryptocurrency mining. As part of this move, businesses engaged in mining must register with the Federal Tax Service. While this change helps bring more mining operations into the formal economy, illegal mining continues to be a challenge that authorities must address to fully capitalize on the sector’s potential.

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