Russians have started buying hardware crypto wallets more often, reports CNews. Sales of such devices have increased significantly in 2026.
"M.Video" reported that, based on the results of the second quarter of the year, sales of physical crypto wallets in quantitative terms grew by 107% compared to the first quarter, while turnover increased by 92%.
Starting September 1, the law "On Digital Currencies and Digital Rights" comes into force in Russia, which establishes rules for the circulation of cryptocurrencies and requirements for market participants. According to the new rules, it will be possible to store cryptocurrency on wallets (referred to as address identifiers in the law) in digital depositories, which will act as custodians and store the keys to these wallets.
There is no direct ban on non-custodial storage in the law; non-custodial wallets are not prohibited and are not equated to anything illegal, lawyers previously told "RBC-Crypto." However, the law does not allow the withdrawal of cryptocurrency from a Russian depository to a personal wallet: after testing and notification of risks, withdrawal is only possible to an account of a foreign licensed organization.
A transitional period until July 1, 2027, is provided for market participants to adapt. After this date, operations with crypto can only be conducted through regulated organizations, and banks will be obligated to refuse to conduct other operations.
Until recently, hardware crypto wallets were considered the most invulnerable to hacking, but in early August, news emerged about the hacking of one of the oldest wallets, Coldcard. The estimated damage is about $115 million, with over 5,000 addresses attacked.
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