Russian lawmakers passed a first reading of a bill regulating crypto through licensed intermediaries, with key rules set to take effect in July 2026 and 2027. Russia’s lower house of parliament passed a bill in first reading on Tuesday that would create the country’s core legal framework for digital currency, moving Moscow closer to a system that channels crypto trading through licensed intermediaries under Bank of Russia oversight. The draft bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” passed its first reading in the State Duma on Tuesday, according to official records. The bill would allow Russians to buy and sell crypto through approved intermediaries as early as July, while banning unlicensed crypto platforms beginning in July 2027, if the draft becomes law.
Individuals and groups would be required to register with the Bank of Russia before offering certain crypto services, or potentially face fines and prison time. Russia’s government submitted a bill to its parliament’s lower house in an effort to amend the country's legal code to attach criminal liability for crypto services offered without regulatory approval or licensing. In a draft law sent to the State Duma on Friday, Russian lawmakers proposed that entities "carrying out activities related to the organization of digital currency circulation,” that operate without a license from Russia’s central bank, could be subject to criminal liability. Without registration with the Bank of Russia, individuals could face up to $4,000 in fines and up to four years in prison, or more severe penalties…
Binance rejected the allegations, saying it flags suspicious activity, enforces strict compliance procedures and does not permit Iranian users on the platform. A senior US lawmaker launched a congressional inquiry into crypto exchange Binance following reports that the platform processed about $1.7 billion in transactions tied to sanctioned Iranian entities and Russia’s oil “shadow fleet.” On Tuesday, Senator Richard Blumenthal, ranking member of the Senate Permanent Subcommittee on Investigations, sent a letter to Binance CEO Richard Teng requesting documents and internal records related to the exchange’s sanctions controls and compliance practices. Citing reporting from the Wall Street Journal, New York Times and Fortune, Blumenthal said Binance compliance staff had identified two partne…
Russian authorities claim the Telegram messenger refused to remove 155,000 channels flagged for illegal content, according to multiple media reports. Update (Feb. 24, 7:40 pm UTC): This article has been updated to include Pavel Durov’s statement. Russian authorities have opened a criminal investigation into Telegram co-founder and CEO Pavel Durov, according to state media reports. Durov is being investigated in Russia as part of a criminal case involving allegations of facilitation of terrorist activities, official state publication Rossiyskaya Gazeta reported on Tuesday, citing the Federal Security Service (FSB).
Russian news outlets reported on Wednesday that WhatsApp’s domain had been completely blocked and was inaccessible without a VPN or another workaround. WhatsApp, the messaging app owned by social media giant Meta, has accused Russia of attempting to block access for millions of its users to push them towards its state-owned alternative. “Trying to isolate over 100 million users from private and secure communication is a backward step and can only lead to less safety for people in Russia. We continue to do everything we can to keep users connected,” the company said in an X post on Wednesday. Moscow’s state-backed platform Max was launched in March 2025 by Russian tech firm VK as a domestic alternative to foreign-owned services such as WhatsApp and Telegram.
The EU plans to ban crypto transactions with Russia by shutting down all related channels, but analysts question whether the measure is fully enforceable. The European Union is finalizing a new package of sanctions aimed at closing loopholes that officials say have allowed Russia to use cryptocurrency to circumvent existing restrictions. The EU is seeking to “ban all cryptocurrency transactions with Russia” as part of the upcoming 20th sanctions package, the Financial Times reported on Tuesday. Unlike previous efforts targeting Russia-linked entities spun out of already sanctioned platforms, the newly proposed measures are broader and are designed to close Russia’s crypto loophole entirely.
India is urging other countries to develop CBDCs, and China is expanding the use of its digital yuan, allowing banks to offer interest on e-CNY wallets. Russia’s Ministry of Justice has proposed new fines for unregistered cryptocurrency miners. This comes after the finance minister raised concerns about the rise in unauthorized mining activities. A draft bill proposed by the ministry would impose a fine of 1.5 million rubles (about $19,000) and up to two years in a labor colony. Illegal mining involving “outsized profits” could see a maximum of five years in prison, 480 hours of forced labor and a fine of up to 2.5 million rubles. Unregistered miners are a growing problem in Russia, where only 30% have registered their operations as of June 19, according to Deputy Minister of Finance Ivan…
Russia’s justice ministry proposed fines and prison for illegal crypto mining, as officials say most miners still haven’t joined the tax register. Russia has proposed a new draft bill seeking to crack down on unregistered cryptocurrency miners in the country, following concerns from the finance minister about illegal mining activity. Russia’s Ministry of Justice has proposed imposing penalties of up to 1.5 million rubles (about $19,000) and up to two years of forced labor for illegal cryptocurrency mining, according to new draft amendments to the Criminal Code, published on Monday. For crypto mining activities involving outsized profits, the maximum sentence could reach up to five years in prison, 480 hours of forced labor, and a fine of up to 2.5 million rubles.
Russia’s central bank has submitted draft that would allow non-qualified investors to purchase crypto, but only under strict conditions. The Bank of Russia put forward a policy proposal that would allow non-qualified investors to buy certain cryptocurrencies. According to a Tuesday announcement, the central bank’s proposal would allow both qualified and non-qualified investors to buy most crypto, but with limitations. Non-qualified investors would be limited to a yet-to-be-defined set of liquid crypto after passing a knowledge test, capped at 300,000 rubles ($3,834) a year. Qualified investors would gain broad market access excluding privacy coins, also subject to a knowledge test.
Belarus blocked major crypto exchange domains the same day Russia signaled it may ease regulated crypto access requirements while clamping down on the gray market. The Belarusian Ministry of Information has blocked access to crypto exchanges Bybit, OKX, Bitget, Gate, Bingx and Weex, it said on Thursday. According to a government announcement, the ministry has restricted access to the global domains of several crypto exchanges, citing “inappropriate advertising” under Article 511 of the Law on Mass Media. Cointelegraph reached out to the blocked exchanges but had not received responses at the time of publication.
Russia’s central bank is considering scrapping its strict requirements for crypto transactions as sanctions make it hard for Russians to transact internationally. An official from the Bank of Russia suggested easing restrictions on cryptocurrencies in response to the sweeping sanctions imposed on the country. According to a Monday report by local news outlet Kommersant, Bank of Russia First Deputy Governor Vladimir Chistyukhin said the regulator is discussing easing regulations for cryptocurrencies. He explicitly linked the rationale for this effort to the sanctions imposed on Russia by Western countries following its invasion of Ukraine in February 2022. Chistyukhin said that easing the crypto rules is particularly relevant when Russia and Russians are subject to restrictions “on the use…
Russia’s rapid DeFi expansion and increase in large-value transfers indicate growing adoption of crypto for financial services, according to Chainalysis. Crypto adoption in European countries like the United Kingdom and Germany is lagging behind Russia, according to the latest report from US blockchain analytics firm Chainalysis. Russia emerged as the leading crypto market in Chainalysis’ latest European Crypto Adoption report, receiving $376.3 billion in crypto between July 2024 and June 2025. Published Thursday, the report combines analyses of regions previously examined separately, covering Central, Northern, and Western Europe, as well as Eastern Europe as a whole.
The European Union is looking to block Russian crypto transactions, marking the first time that sanctions have directly targeted cryptocurrency platforms. The European Union will include cryptocurrency platforms in its latest financial sanctions against Russia, marking the first time digital asset services have been directly targeted. The measures, part of the bloc’s 19th sanctions package, prohibit all cryptocurrency transactions for Russian residents and restrict dealings with foreign banks tied to Russia’s alternative payment systems, according to a statement by European Commission President Ursula von der Leyen published Friday. The package also seeks to block transactions with entities operating in Russian special economic zones.
The UK sanctioned Kyrgyz banks, crypto exchanges and individuals tied to Russia’s ruble-backed stablecoin. The United Kingdom imposed sanctions on Kyrgyzstan’s financial sector and crypto networks it said were used by Russia to bypass Western restrictions, targeting an alleged $9.3 billion, ruble-backed stablecoin operation. The new measures build on more than 2,700 existing UK sanctions against Russia and follow a similar move last week by the United States, the UK government said in a Wednesday announcement. Among those sanctioned was Capital Bank of Central Asia and its director, Kantemir Chalbayev, which the UK claims Russia used to finance military goods. Two Kyrgyz crypto exchanges, Grinex and Meer, were also blacklisted, along with entities tied to the infrastructure supporting the…
Russia will continue taking measures to encourage crypto mining businesses to register with the tax authority, including imposing bigger penalties for violations. Russia’s cryptocurrency laws have not convinced most mining businesses to register with authorities, as only 30% of the miners have entered the Federal Tax Service Register since late 2024. The Russian government began enforcing two crypto mining-related bills in October and November 2024, introducing legal definitions and registration requirements for mining businesses. Still, 70% of the miners remain underground, Finance Ministry official Ivan Chebeskov said, according to a report by local news agency TASS on Thursday.
The co-founder of Telegram-based crypto project Blum, Vladimir Smerkis, is in custody in Moscow over accusations that he committed large-scale fraud, TASS reports. Vladimir Smerkis, a co-founder of the Telegram-based crypto project Blum, has reportedly been arrested in Moscow, Russia, on fraud allegations, amid Blum confirming he is no longer affiliated with the project. The Zamoskvoretsky District Court of Moscow approved a request from investigators to keep Smerkis in custody while he is being investigated, Russian state-owned news outlet TASS reported on May 18. Smerkis — who previously ran operations for Binance in Russia — is suspected of committing fraud on a “large scale,” pursuant to Article 159 of the Criminal Code of the Russian Federation, violations of which can result in impri…
