Sberbank Estimates Russia's Legal Crypto Market at 1–2 Trillion Rubles
- —Sberbank sees Russia's crypto market turnover at 1–2 trillion rubles after legalization
- —The Bank of Russia estimated residents' monthly balances on foreign exchanges at 930 billion rubles
- —BTC accounted for 62% of those funds, ETH for 16% and other assets for 22%
- —Sberbank was added to the central bank's first digital depository registry on October 6
Why it matters: Legalization could bring billions of rubles back into the regulated system and boost demand for BTC and ETH on Russian venues.
Source: BeInCrypto RU
More on this
Regulation · Sep 28Russia's Finance Ministry: 20 Million Citizens Hold 3.7 Trillion Rubles in Crypto
Regulation · yesterdayRussia's Sberbank prepares Bitcoin, Ethereum and USDT products for December 1
Regulation · Oct 5Sberbank files application with Bank of Russia for digital depository status