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Russia hardware-wallet sales jump ahead of new crypto rules

CoinDesk reports M.Video saw hardware-wallet unit sales rise 107% in Q2 from Q1, with sales by value up 92%, while Wildberries’ H1 unit sales increased 84% year on year.

Reported · Written up by our desk · Market Structure

CoinDesk reports that Russian hardware-wallet demand accelerated sharply in 2026 as the country prepares to introduce new crypto rules. Retailer M.Video said its hardware-wallet unit sales rose 107% in the second quarter versus the first quarter, while sales by value increased 92%. Wildberries also reported stronger interest, with hardware-wallet unit sales up 84% year on year in the first half. Its average hardware-wallet price fell 13% to 7,900 rubles, and sales value rose 60% over the same period, though neither retailer disclosed how many devices were sold.

CoinDesk notes that hardware wallets are used for self custody, where private keys are stored on a dedicated device rather than via an internet-connected service. The article adds that the devices do not eliminate Russia’s withdrawal restrictions or the technical and security risks tied to devices, backups, and seed phrases. The report says Russian law does not ban non custodial wallets, but it does restrict withdrawals from Russian digital depositories to personal wallets, with a transition period running until July 1, 2027. After Sept. 1, when a broader crypto framework is set to take effect, CoinDesk reports that regulated exchanges and digital depositories will be allowed, retail access to liquid crypto will be limited, and domestic crypto payments remain banned, per the Bank of Russia.

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