Russians move $129B in crypto yearly ‘outside our attention’: Official

Russia’s deputy finance minister says around 50 billion rubles worth of crypto changes hands daily, calling for crypto market regulation. 

Russia’s finance ministry and central bank are reportedly calling on the government to speed up the rollout of crypto market regulations amid booming adoption of digital assets, claiming citizens are spending almost 50 billion Russian rubles ($648 million) on crypto daily. 

According to a report from Russian news outlet RBC on Thursday, Russia’s deputy finance minister, Ivan Chebeskov, emphasized the importance of regulating the market, as most crypto spending is happening primarily through unregulated channels.  

“We have always said that millions of citizens are involved in this activity, these are trillions of rubles from the point of view of citizens in use, in savings,” he said as part of a panel discussion on digital assets at the Alfa Talk conference, adding: 

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