On September 1, Russia launched its digital asset framework. Sberbank projects that regulated cryptocurrency transactions would reach $46.4 billion in the first year.

Russia is moving in the right direction by formally establishing a framework for cryptocurrency trading. The goal is to create a regulated market where authorized domestic exchanges can receive billions of dollars.

The country’s biggest state-owned bank, Sberbank, predicts that regulated platform trade volume would reach 4 trillion rubles ($46.4 billion) in the first year, and then rise to 7.5 trillion rubles ($87 billion) by 2029.

The forecast is not based on wishful thinking, but on data from Russia’s Ministry of Finance, which says that the volume of domestic…