{
  "id": 318755,
  "title": "Hardware wallet sales in Russia more than double as new crypto rules near",
  "url": "https://urgent.news/2026/08/08/hardware-wallet-sales-in-russia-more-than-double-as-new-crypto-rules",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-08T17:48:02.000Z",
  "source": {
    "name": "CoinDesk",
    "slug": "coindesk",
    "url": "https://www.coindesk.com/business/2026/08/08/hardware-wallet-sales-in-russia-more-than-double-as-new-crypto-rules-near"
  },
  "original_language": "en",
  "account": "Russian consumers' demand for hardware crypto wallets surged more than double in the first half of 2026, according to data from two prominent retailers, as the nation prepares to implement new cryptocurrency regulations. Retailer M.Video reported a 107% increase in unit sales for its marketplace in the second quarter compared to the first quarter, with sales value rising 92%. Independent retailer Wildberries also noted heightened demand, with unit sales increasing 84% in the first half of 2026 compared to the same period in 2025, while sales value grew by 60%. Hardware wallets store private keys needed to control cryptocurrencies on a dedicated device, separate from internet-connected services, thereby reducing exposure risk. Although Russian law does not prohibit non-custodial wallets or classify them as illegal, it prohibits withdrawals from Russian digital depositories to personal wallets. However, a transition period until July 1, 2027, allows for this restriction. The surge in wallet sales coincides with the country's upcoming broader crypto regime, set to commence on September 1. This framework will permit regulated exchanges and digital depositories, while enabling retail investors to purchase liquid cryptocurrencies under a 300,000-ruble annual cap per intermediary, and maintains the ban on domestic crypto payments. Hardware wallets, however, remain susceptible to technical vulnerabilities; Coinkite recently disclosed a Coldcard firmware flaw that compromised seed generation, potentially resulting in losses exceeding $116 million.",
  "summary": "Russian demand for hardware crypto wallets has surged more than double in the first half of 2026, according to data from two major retailers. M.Video reported a 107% increase in unit sales on its marketplace in Q2 compared to Q1, while Wildberries saw an 84% rise in unit sales from H1 2025 to the same period in 2026. Sales value also increased, with M.Video seeing a 92% rise and Wildberries a 60% increase. These devices keep private keys secure by storing them on a dedicated device rather than an internet-connected service. Despite the increase in demand, Russian law does not ban non-custodial wallets and they are not treated as illegal, though it does ban withdrawals from Russian digital depositories to personal wallets. The country is set to introduce new crypto rules on September 1, 2026, which will allow regulated exchanges and digital depositories to operate while restricting domestic crypto payments.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}