Research: Demand for crypto wallets in Russia fell by 35% over the year

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In Russia, there is a decline in interest in services that provide access to digital assets. According to a study conducted by Yota, demand fell by 35% over the year.

Increased interest in crypto wallets in the countrywas recorded last year, and March 2022 saw a short-term spike in traffic. This spring, an analysis of aggregated data showed that traffic associated with such requests dropped by more than a third compared to the same period in 2022.

Analysts explain that the main audience,those showing interest in cryptocurrencies - young people aged 21 to 35 - are losing interest in digital assets. Last year, the share of this audience was 61% of total traffic. However, in 2023 the share of such users decreased by 10%.

On the other hand, the older generation, whotreats new technologies more conservatively and begins to pay attention to digital assets. The age category 50+ showed the largest increase in the share of traffic, although the absolute number of such users is still not very large.

The Russian authorities are currently developing lawsaimed at stricter regulation of crypto assets. Earlier, the Chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov, said that the adoption of laws on mining in Russia was postponed until the consideration of bills on administrative and criminal liability in the field of mining and cryptocurrencies. 

Recently, the head of the financial policy department of the Russian Ministry of Finance, Ivan Chebeskov, advised Russians with average incomes not to switch to cryptocurrencies.