In Russia, there are about 6 million active participants in the cryptocurrency market, each of whom conducts transactions averaging $8000 per month. This information was provided by Anton Toropcev, regional director of the CommEX exchange in Russia and the CIS, during his presentation at the Global Vision Summit in Moscow. Taking into account the commission, which varies from 0.02% on the futures market to 0.1% on the spot market, the total income of cryptocurrency exchanges working with Russian clients could reach $25 million per month, which is approximately equivalent to 30 billion rubles per year.

However, Evgenia Burova, marketing director of the Garantex cryptocurrency exchange, provided a different estimate, according to which the monthly turnover of cryptocurrencies in the Russian market on platforms with KYC/AML procedures amounts to about 250 billion rubles. Toropcev also expressed an opinion about the possible strengthening of regulatory pressure on large centralized cryptocurrency exchanges and further division of the crypto market by regional criteria. He suggested that after Binance, the attention of American regulators may shift to other major platforms, which will negatively affect the interests of end users and lead to a narrowing of the market and the emergence of smaller platforms focused on specific regions.

Toropcev also noted that some users may switch to decentralized exchanges (DEX), but at the moment they are not a completely understandable product for the wider audience. In conclusion, it is worth mentioning that the Central Bank of Russia estimated the volume of bitcoin transactions for the second and third quarters of 2023 at 1.68 trillion rubles, and in January 2024, Russian users topped the ranking in terms of visits to the Bybit cryptocurrency exchange, accounting for 23% of total traffic.