Russia’s regulated cryptocurrency market could process roughly 4 trillion rubles ($46.43 billion) during its first year and about 7.5 trillion rubles ($87.06 billion) by 2029, according to Sberbank Deputy Chairman Anatoly Popov. The estimates from SberCIB Investment Research come ahead of new rules for legal crypto trading taking effect on September 1. Finance Ministry data cited by Popov puts Russia’s current cryptocurrency transactions at about 50 billion rubles a day, or roughly 18 trillion rubles annually. SberCIB expects around 20% of that activity, equivalent to 3.5 trillion to 4 trillion rubles, to move initially to regulated exchanges (licensed crypto-trading venues). The projected volume rises to 4.75 trillion–5.25 trillion rubles by 2028 and 7.5 trillion rubles by 2029 as investors increasingly use official platforms. The forecast is conservative because some activity is expected to remain with crypto-exchange services outside licensed venues, while professional market participants have until July 1, 2027, to obtain licenses. Sberbank has also outlined a planned off-chain crypto trading system (transactions recorded outside a blockchain) and said it will accept Bitcoin, Ethereum and USDT as loan collateral. Popov spoke ahead of the Eastern Economic Forum, scheduled for September 1–4 in Vladivostok, where officials and businesses are expected to discuss the regime’s next steps.