Trends in Russia’s Cryptocurrency Market in 2024

🟦The year 2024 marked a turning point for the Russian cryptocurrency market due to the adoption of key legislation. In August, mining and cross-border cryptocurrency transactions were legalized under an experimental legal regime (ELR). This allowed miners to operate legally and prepare for public market entry, although temporary bans in some regions due to electricity shortages reshaped the geography of mining activities.

🟦The year also saw a surge in the popularity of tokenizing real-world assets and the development of digital financial asset (DFA) products. In the blockchain industry, the continued rise of TON and Telegram Mini-Apps brought cryptocurrencies closer to mainstream users.