The Russian finance ministry reports that Russians are engaging in cryptocurrency transactions totaling approximately $648 million daily, adding up to an annual volume of over $130 billion, as stated by Deputy Finance Minister Ivan Chebeskov. This burgeoning crypto activity is taking place in unregulated spaces, prompting Russian lawmakers and the central bank to back forthcoming legislation aimed at regulating the market, expected to be voted on during the spring session. With these regulations, there will be a focus on exchanges and a licensing system, enabling major banks and the Moscow Exchange to offer crypto-related services and compete within this expanding financial market.
Russian Ministry of Finance: $648M in Daily Crypto Transactions
