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Cryptocurrencies

3 Feb 2022

$200 Billion: Russia Accounts for 12% of the World’s Crypto Reserve

The Index Today

Russia accounts for a whopping 12% of the world’s total reserve of cryptocurrency. A study showed that traders in the country possess crypto valued at over 16.5 trillion rubles (USD 200 billion). Bloomberg reports that over 17 million Russians own cryptocurrency.

Although the country has never officially embraced the digital currency, its growing prominence has led the Russian central bank and President Vladimir Putin to develop legislation for crypto regulation.

This comes as Russian politicians and entrepreneurs recently objected to the central bank’s decision to ban crypto in the country.

Clay pottery with table linens