20 Million Russians Hold $44 Billion in Crypto Assets

Russian Deputy Finance Minister Ivan Chebeskov stated that at least 20 million Russians have invested in crypto products, holding a total of approximately 3.7 trillion rubles, equivalent to about $44 billion. These assets are primarily used for foreign trade settlements, mining, and trading on overseas exchanges and savings. Russia allows qualified and non-qualified investors to hold and trade crypto assets on regulated domestic exchanges through a regulatory framework, but still prohibits the use of crypto assets for everyday payments and is promoting the digital ruble as a payment tool directly regulated by the state.

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