According to data covering July 2024 to June 2025, Russia recorded approximately $376.3 billion in crypto transaction volume, making it Europe’s top country by crypto activity.
Analysts attribute this surge to the expansion of crypto mining within the energy sector and the use of digital assets as alternative financial channels amid ongoing international sanctions.
Tether (USDT) and Bitcoin (BTC) remain the most commonly used cryptocurrencies in Russian transactions, while activity in decentralized finance (DeFi) platforms continues to rise.
Experts suggest this trend could increase regulatory pressure across Europe, as authorities move to better monitor cross-border crypto flows.
