Russian Deputy Finance Minister: 20 Million Russians Hold Nearly $44 Billion in Crypto Assets

Odaily reports that Russian Deputy Finance Minister Ivan Chebeskov stated that at least 20 million Russians have invested in crypto products, collectively holding approximately 3.7 trillion rubles, or about $44 billion. These assets are primarily used for foreign trade settlements, mining, and trading and savings on overseas exchanges.

Russia is advancing a regulatory framework that allows both qualified and non-qualified investors to hold and trade crypto assets on domestically regulated exchanges, while still prohibiting the use of crypto assets for everyday payments, and promoting the digital ruble as a payment instrument under direct state supervision. (Bitcoin.com News)