According to Odaily, a recent study conducted by the Central Bank of Russia reveals a significant surge in the trading activity of Russian citizens on global platforms over the past two quarters. This increase has prompted officials to issue warnings about the heightened risks users may face.
During this period, the number of visits to leading cryptocurrency exchange websites exceeded 104.6 million, marking a 16.4% growth compared to the web traffic in the second and third quarters of 2023. Furthermore, the average monthly number of unique Russian users on major cryptocurrency exchanges grew by 15.1%. In the first quarter of 2024, these users accounted for 7% of the total traffic on these platforms, which is still lower than the peak of 9% in the first quarter of 2023.
The report also highlighted the potential risks associated with the increased adoption of cryptocurrencies. Specifically, if Western countries intensify pressure on digital asset issuers, Russian users may face additional challenges and uncertainties.