Russia Tightens Control: Crypto Payments to Be Punishable by Fines and Asset Seizure

Starting in 2026, Russia will officially impose fines on both individuals and businesses who continue using cryptocurrencies as a means of payment. While such transactions have been banned since 2021, authorities are preparing for even stricter enforcement—including the confiscation of assets.

🔹 From Bitcoin to Penalties: Russian State Steps In According to Izvestia, Anatoly Aksakov, chairman of the State Duma’s Financial Markets Committee, revealed that lawmakers will discuss the draft bill this autumn, aimed at introducing specific sanctions for crypto payment violations. The proposed law, jointly developed by the Russian Central Bank and the Ministry of Finance, includes the following penalties: 🔹 Fines of 100,000 to 200,000 rubles (about $2,500) for individuals

🔹 Fines of 700,000 to 1 million rubles (almost $13,000) for businesses

🔹 Asset seizure of illegally used crypto In April 2024, Russia amended its legislation to officially recognize crypto as property in criminal cases, legalizing its confiscation by authorities.

🔹 Crypto is Property—But Not a Payment Tool As of January 2024, crypto assets are formally recognized as property under Russia’s tax code, allowing the government to tax mining and—under limited conditions—crypto trading. Mining is now legal, while trading is regulated, but crypto payments remain strictly prohibited. Despite the ban, crypto continues to be used in practice, particularly in cross-border transfers and in paying remote employees such as software developers. The state is now determined to clamp down on such loopholes.

🔹 Crypto Use in Payments Is Still Rising Even though the "Law on Digital Financial Assets" (DFA) banned crypto payments back in 2021, the volume of such transactions grew by 2.5% during the first year of the Ukraine conflict. “It’s often tied to informal employment—for example, Russians working remotely for foreign companies,” said Alexey Gorelkin, an information security expert. “Russian companies rarely use crypto directly, but they may use it as a bonus or equity incentive rather than a wage.” Ivan Kalmykov, an IT analyst, added that Web3 gaming platforms often distribute rewards in crypto generated within their ecosystems, providing additional use cases.

🔹 Telegram Bots, QR Payments, and Shadow Services Still Operate Despite the ban, hundreds of online services and Telegram bots continue to process crypto payments, including via QR codes. It’s estimated that over 400 such services remained active two years after the crypto payment ban came into effect.

🔍 Conclusion: Russia Cracks Down as Crypto Payments Come Under Scrutiny The Russian government has made it clear that cryptocurrency payments on domestic soil won’t be tolerated. While the official stance remains firm, crypto is still being used—especially to bypass sanctions and as an alternative form of compensation. The new law marks a turning point: clear fines, confiscation, and tighter enforcement are coming.

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