Hardware wallet sales in Russia double as new crypto rules near

Russian consumers bought more hardware crypto wallets in the first half of 2026. Data from two major retailers show the surge as the country prepares to enforce new digital asset rules.

M.Video, a consumer electronics chain, said unit sales on its marketplace rose 107% in the second quarter from the first. Sales value increased 92%. The company did not disclose total devices sold.

Wildberries, an online retailer, recorded an 84% rise in unit sales in the first half compared with the same period of 2025, RIA Novosti reported, citing RWB, the marketplace's parent. Sales value increased 60%.

The comparisons cover different periods. M.Video measured Q2 against Q1, while Wildberries compared H1 with the same period of 2025. Neither company released unit totals.

Hardware wallets store private keys on a dedicated device rather than an internet-connected service, reducing exposure to hacks. Russian law does not ban non-custodial wallets, lawyers told RBC, but bars withdrawals from Russian digital depositories to personal wallets. A transition period runs until July 1, 2027, allowing holders to move assets from depositories to personal wallets without restriction.

After that, crypto transactions must go through regulated entities. Banks must refuse to process transactions outside the regulated system. The broader rules take effect Sept. 1, allowing regulated exchanges and digital depositories. Retail investors can buy liquid cryptocurrencies after testing, subject to a 300,000-ruble annual cap per intermediary, about $3,300 at current rates. The ban on domestic crypto payments remains, the Bank of Russia said.

The regulatory shift is part of a wider evolution in the crypto market.

Hardware wallets still carry technical risks. Coinkite disclosed a Coldcard firmware flaw on July 30 that weakened seed generation, leading to estimated losses of over $116 million.

The Sept. 1 deadline is now less than three months away.