Russian crypto trading to bring $46B to regulated exchanges in first year

The estimate from Russia's largest bank signals that legalization could rapidly channel substantial domestic trading volume into regulated venues, rather than pushing activity offshore or further into gray markets. This matters because it suggests institutional confidence in the compliance framework's ability to capture existing demand. The open question is whether the infrastructure and banking integration can handle that scale smoothly in year one, and how regulators will respond if volumes exceed projections. For market observers, the key is watching whether these platforms actually attract the projected flow or if capital remains fragmented across unregulated channels.