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 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 domestic 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)