Millions of Russians are engaged in transactions involving cryptocurrencies for tens of billions of rubles every day, according to a top finance ministry official in Moscow.

Usage is constantly increasing, the high-ranking representative of the department acknowledged amid preparations for comprehensive regulation of crypto operations in Russia this next spring.

Russia’s daily crypto turnover nears $650 million

The total volume of crypto-related transactions in Russia is approximately 50 billion rubles (over $647 million) per day, according to an estimate made public by the country’s Deputy Minister of Finance Ivan Chebeskov.

Speaking at a conference devoted to the country’s expanding market for digital assets, and quoted by…