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Russian crypto market worth $500B despite bad regulation, says exec
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The Russian cryptocurrency market has grown to hundreds of billions of dollars despite the absence of sufficient cryptocurrency regulation, according to a major industry executive.
Sergei Khitrov, founder of the Russian cryptocurrency event Blockchain Life, gave a keynote speech on the state of cryptocurrency regulation in Russia at the VII Blockchain Life Forum in Moscow on Oct. 27.
Based on his own industry insights and knowledge of the market, Khitrov estimated the Russian crypto market to be worth as much as 40 trillion rubles, or more than $550 billion. He also claimed that Russian crypto businesses could generate as much as 284 billion rubles ($4 billion) worth of taxes per year, should the Russian government provide more comfortable
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