[Annual trading volume approximately $119 billion, Russia has about 20 million cryptocurrency users] Odaily Planet Daily News – Russian Deputy Finance Minister Ivan Chebeskov stated that Russia has approximately 20 million cryptocurrency users, with the total scale of cryptocurrencies and related financial products held by citizens amounting to around $44 billion, and daily trading volume reaching approximately $595 million. Russia is advancing comprehensive regulations to clarify the responsibilities of service providers, intermediaries, and investors. Starting from July 1, 2027, criminal liability will be imposed for illegal organization of cryptocurrency trading activities, excluding ordinary individual transactions. The Ministry of Finance and the Central Bank are studying the operational models and application scenarios of domestic stablecoins. If assets such as USDT and USDC are frozen due to actions by foreign issuers and Russian custodians are not at fault, the related losses will, in principle, be borne by investors.