Russia Discloses Over 10 Million Offshore Crypto Wallets at SPIEF 2026

Russia’s Deputy Finance Minister revealed that citizens hold more than 10 million crypto wallets on offshore exchanges, exposing significant cross-border exposure. This follows a June 1 forecast by CypraMarkets CEO Alexey Korolenko predicting up to 1 million new domestic accounts within the first year of legalization. The disclosures highlight growing regulatory scrutiny, with analysts noting 12–18 months until implementation amid ongoing payment restrictions and sanctions risks.