Russia’s legal crypto trading market could reach at least 4 trillion rubles, or about $46.43 billion, in its first year, according to Sberbank Executive Committee Deputy Chairman Anatoly Popov. Sberbank expects the market to expand to about 7.5 trillion rubles, or $87.06 billion, by 2029 as investors shift toward official trading channels. The framework takes effect on September 1 and allows investors to buy crypto assets legally through brokers. Non-qualified investors will face a 300,000-ruble annual limit through a single licensed intermediary and must pass a risk-awareness test, while qualified investors will have a 3 million-ruble limit. Official exchanges will initially offer only Bitcoin, Ethereum and USDT, excluding other altcoins, and may complete registration by July 1, 2027. Popov said most trading activity will remain outside regulated exchanges; about 20% of first-year volume, estimated at 3.5 trillion to 4 trillion rubles annually, is expected to pass through exchanges.