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September 23, 2026 4:03 am
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About 20 million people in Russia use cryptocurrencies, with total holdings estimated at 3.7 trillion rubles ($44 billion) and daily trading volume at around 50 billion rubles ($595 million), Wu Blockchain reported.
Russian Deputy Finance Minister Ivan Chebeskov said Russian taxpayers must report cryptocurrency transactions conducted outside the country’s regulatory framework to the Federal Tax Service. He added that if overseas issuers freeze stablecoins such as USDT or USDC for reasons beyond the control of Russian custodians, investors will bear the resulting losses.