Russia Hardware Crypto Wallet Sales Surge Ahead of New Rules

Demand for hardware crypto wallets in Russia surged in the first half of 2026 as consumers prepared for major changes to the country’s cryptocurrency regulations.

Russian electronics retailer M.Video reported that hardware wallet unit sales on its marketplace jumped 107% in the second quarter compared with the first quarter of 2026. Sales by value increased 92% over the same period, although the company did not disclose the total number of devices sold.

Wildberries recorded a similar rise in demand. Unit sales of hardware crypto wallets increased 84% during the first half of 2026 compared with the same period last year, according to RIA Novosti, citing marketplace parent company RWB. Sales revenue climbed 60%.

The figures use different comparison periods, with M.Video measuring second-quarter performance against the first quarter and Wildberries comparing the first half of 2026 with the first half of 2025. Neither retailer provided total sales volumes.

Hardware wallets are physical devices designed to store the private keys required to access and control cryptocurrency. By keeping those keys away from internet-connected services, they can reduce exposure to online attacks and custodial risks.

Russia currently does not prohibit non-custodial crypto wallets. However, withdrawals from Russian digital depositories to personal wallets are restricted, with a transition period running until July 1, 2027.

The sales increase also comes ahead of Russia’s broader cryptocurrency regulatory framework, which is scheduled to take effect on Sept. 1. The new regime will permit regulated crypto exchanges and digital depositories. Certain retail investors will also be allowed to purchase liquid cryptocurrencies after passing a knowledge test, subject to an annual limit of 300,000 rubles per intermediary. Russia’s existing ban on using cryptocurrency for domestic payments will remain in place.

Once the transition period ends, crypto transactions will be required to pass through regulated entities, while banks will have to reject transactions conducted outside the approved framework.

Despite growing interest in self-custody, hardware wallets are not risk-free. Coinkite disclosed a Coldcard firmware vulnerability on July 30 that weakened seed generation. The security incident was linked to estimated losses exceeding $116 million, highlighting the importance of secure firmware, reliable seed generation and careful crypto wallet management.

I can also make it more Google Discover-focused or tailor the keyword density for terms such as “Russia crypto regulations,” “hardware crypto wallets,” and “crypto wallet sales.”