Residents of Russia own digital assets worth $214 billion

The Russians own 16.5 trillion rubles worth of cryptocurrencies, which is equivalent to $214 billion. Thus, the inhabitants of the Russian Federation control 12% of the cryptocurrency market.

To get the data, analysts studied the IP addresses of users of the largest cryptocurrency exchanges in the world. Analysts note that this is not the limit. The real numbers could be even higher as regulation fluctuates and many traders work through VPNs, hiding their crypto assets activities.

In view of the ever-growing digital currency market in Russia, the issue of developing new regulatory rules is very acute. The authorities of the state do not add optimism in this matter.

At the end of 2021, there were rumors in Russia about a possible ban on cryptocurrencies and mining. However, later the Ministry of Finance nevertheless decided not to ban digital currencies, but simply to develop a new set of rules for their regulation.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

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