In Russia, the number of crypto-processing services has doubled.

In the first half of the year in Russia, the number of services accepting payments in cryptocurrencies doubled compared with the same period last year. According to RTM Group data, «Коммерсант» reports.

According to their assessment, there are currently about 300–400 crypto-processing services operating in the country.

The largest share goes to crypto exchanges, as well as Russian companies that sell goods and services abroad.

According to RTM Group experts, the appeal of crypto-processing for organisations lies in low fees, fast transactions without the need for conversion and avoidance of losses on cross-rates. They also warned that regulatory risks for such activity persist.

Earlier in July, Russian media reported that the Ministry of Finance planned to ban the circulation of cryptocurrencies except for stablecoins and the sale of coins to miners. The amendments were reportedly to be included in the bill regulating the mining of digital assets.