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

Odaily News: 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, equivalent to about $44 billion. These assets are mainly used for foreign trade settlements, mining, and trading and savings on overseas exchanges.

Russia is working through a regulatory framework to allow qualified and non-qualified investors to hold and trade crypto assets on domestic regulated exchanges, while still prohibiting the use of crypto assets for daily payments, and is advancing the digital ruble as a payment tool under direct state regulation. (Bitcoin.com News)