Russian Finance Ministry expects 10 million new crypto users by 2027

Russia’s crypto market just got a lot harder to ignore. Deputy Finance Minister Ivan Chebeskov disclosed that approximately 20 million Russians now hold digital assets, with total investments reaching 3.7 trillion rubles. The ministry expects another 10 million users to join by 2027, a projection that would give Russia one of the largest crypto user bases in the world.

A regulatory framework takes shape

The foundation for this expansion is a new legal framework for digital assets that took effect on September 1, 2026. President Vladimir Putin signed the legislation into law in August, establishing the first comprehensive regulatory regime for crypto exchanges, brokers, and custodians operating in Russia.

Under the new rules, all crypto intermediaries must obtain licenses, with a full compliance deadline of July 1, 2027. The law takes a split approach to crypto payments. Domestic transactions using digital assets are prohibited, keeping the ruble’s monopoly on everyday commerce intact. But cross-border crypto transactions are permitted, giving Russian businesses and individuals a legal channel for international settlements.

For retail investors who don’t meet qualified investor thresholds, the rules impose an annual purchase cap of 300,000 rubles per intermediary. Qualified investors face no such restrictions.

From offshore wallets to domestic platforms

One of the more telling data points Chebeskov shared earlier in June 2026 was that approximately 10 million wallets had been opened by Russians on foreign cryptocurrency exchanges.

A survey conducted on September 19, 2026, by Russian financial services firm Finam found that 85% of over 1,500 active crypto traders said they were willing to transition to domestic trading platforms once the infrastructure becomes available.

What 30 million users would mean

If the Finance Ministry’s projection holds and another 10 million users enter the market by 2027, Russia would have roughly 30 million crypto participants. Russia’s total population is around 144 million, meaning more than one in five Russians would hold some form of digital asset.

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