A purge is coming: Vice President of MTS Fintech predicts the exit of weak players from the Russian crypto market
The Russian crypto industry has reached a turning point. The regulator, having exhausted the possibility of ignoring the market's scale, is forced to move from a policy of "turning a blind eye" to direct regulation. As I predicted earlier, a complete ban on the sector is no longer possible — its development has gone too far. Now begins a phase of rigid structuring, and not all participants in this process will survive.
Roman Prokopyev, First Vice President of MTS Fintech, in a recent expert discussion of the bill submitted to the State Duma on April 1, clearly outlined the new reality. In his opinion, the regulator had no other choice but to create clear rules of the game. The chaotic development, where products were created before legal norms emerged, has come to an end. The industry now faces a serious stress test.
Not all companies will be able to adapt to the new stringent requirements. The market, which has long developed in a "gray" zone, will face inevitable consolidation. Some players, unprepared for financial and legal transparency, will simply disappear from the business map. This is a natural process of market maturation.
How MTS Fintech is Preparing for the New Era
Unlike many competitors, MTS Fintech approaches the issue systematically. As Prokopyev notes, the company has already accumulated years of experience working on international platforms with established legislation. The team is now focused on transferring these developments into the Russian legal framework.
To successfully implement the strategy, the holding has identified three large-scale tasks:
| No. | Key Company Task |
| 1 | Creating a user-friendly interface and a high-quality customer product. |
| 2 | Ensuring maximum security of user assets. |
| 3 | Full compliance with the stringent requirements of the state regulator. |
Increased attention is paid to security issues. Unlike classic banking, the loss of digital coins due to storage problems is irreversible. This factor places enormous responsibility on developers. At the same time, the legality of all processes remains a key priority. As Prokopyev emphasizes, the company has fundamentally avoided working in gray or black zones, preferring to observe processes from the sidelines if certain operations were outside the legal framework.
My analysis: The statements from MTS Fintech are a clear signal to the market. The legalization of cryptocurrencies in Russia is inevitable, but it will follow a strict scenario. Large players with experience in international compliance will gain an advantage, while small and opaque projects will be pushed out of the market. Investors should prepare for a period of high volatility and consolidation.