Crypto: Russia Expects 10 Million New Users by 2027

Ten million new users in one year? This projection, attributed to the Russian Ministry of Finance, has been circulating for a few hours, although no official statement has yet detailed its calculation or scope.

The only confirmed figure from Ivan Chebeskov, Deputy Minister of Finance, concerns the existing situation: Russia already has around 20 million cryptocurrency users, with 3.7 trillion rubles invested (39 billion euros). The country has also legally opened cryptocurrency trading to the general public, under strict conditions. Here’s a summary of everything.

Key Points

• The Russian Ministry of Finance is forecasting up to 10 million new crypto users by 2027, which is nearly one in twelve adults.
• The Ministry estimates that 20 million Russians are already using cryptocurrencies.
• Since September 1, 2026, non-qualified investors can buy up to 300,000 rubles worth of cryptocurrencies per year and per intermediary.
• Payments in cryptocurrencies remain prohibited for goods and services in Russia.

Russia Already Has 20 Million Cryptocurrency Users

The projection of 10 million new users by 2027 was first relayed by accounts specializing in international crypto news. It is presented as an estimate from the Russian Ministry of Finance, but no publicly accessible publication details its methodology.

In contrast, Ivan Chebeskov stated to TASS that Russia already has about 20 million cryptocurrency users. The total amount held or invested by individuals would reach 3.7 trillion rubles. This estimate includes direct holdings of digital currencies as well as some financial products indexed to their value.

The market now has a broader legal framework. A law that came into effect on September 1, 2026, allows Russian investors to buy and sell cryptocurrencies through regulated operators.

Non-qualified investors must pass a knowledge test and can only purchase cryptocurrencies considered to be the most liquid, limited to 300,000 rubles (3250€) per year and per intermediary. Qualified investors must also pass a test but can trade a wider range of assets without a purchase limit.

The previous project reserved for "specially qualified" investors, with more than 100 million rubles in assets (10 million €) or 50 million rubles in annual income, is thus outdated. These thresholds corresponded to an experimental proposal presented in 2025, prior to the adoption of the current framework.

Russia is expected to have up to 10 million new crypto users next year -- Source: X Account

Trading Allowed, Payments Still Prohibited

The opening of the market does not transform cryptocurrencies into means of payment. Since the enactment of the law on digital financial assets in January 2021, it remains prohibited to settle goods or services in bitcoin, ether, or stablecoins on Russian territory.

The regulation thus establishes a clear separation: cryptocurrencies can be held and traded as investment assets, but they cannot compete with the ruble in domestic payments.

Mining also follows a distinct regime. The activity has been legal since November 2024. Companies and individual entrepreneurs must be registered in a tax registry, while individuals can mine without registration as long as their consumption does not exceed 6,000 kWh per month. Income from mining must be declared, and corporate profits are subject to the standard tax rate of 25%.

Since September 2024, Russia has also allowed certain cryptocurrency transactions in international trade under an experimental regime. This exception aims to facilitate cross-border settlements made more difficult by Western sanctions.

The digital ruble is also progressing. Since September 1, 2026, major Russian banks must allow their clients to access it, while large retailers must be able to accept it. This obligation concerns banking and commercial infrastructure: individuals remain free to use or not use this central bank digital currency.

Thus, the challenge for Moscow is no longer to ban cryptocurrencies but to bring an activity that has largely developed on foreign platforms and over-the-counter markets into a regulated circuit. The announced 10 million new users would represent a significant increase, but this figure should still be considered a media projection, as there is no official publication allowing for precise verification of its origin. In any case, things are changing in Russia, and very quickly.