Crypto Regulations in Russia: What You Need to Know About Trading and Compliance

When it comes to crypto regulations Russia, the legal framework governing cryptocurrency use, trading, and mining within the Russian Federation. Also known as Russian cryptocurrency laws, it's a patchwork of bans, loopholes, and sudden policy flips that catch even experienced traders off guard. Unlike the EU’s MiCA rules or the U.S.’s fragmented approach, Russia’s stance has swung from outright hostility to cautious tolerance—mostly because the government wants control, not elimination.

At the heart of this is crypto taxation Russia, how the Russian Federal Tax Service treats digital assets as property, not currency. Also known as digital asset taxation, it means if you sell Bitcoin for rubles and make a profit, you owe 13% income tax. No reporting? That’s a fine up to 30% of the unreported amount. Meanwhile, crypto mining Russia, the process of validating blockchain transactions using hardware in Russia. Also known as cryptocurrency mining in Russia, is still allowed—but only if you’re not using subsidized electricity. In 2024, the government cracked down on miners who relied on cheap power from state utilities, forcing many to shut down or move abroad. And if you think you can just use a VPN to trade on Binance? Think again. Russian banks are now required to block transactions tied to foreign crypto exchanges, and the Central Bank has pushed for a full ban on crypto payments—even though holding crypto isn’t illegal.

What’s missing from most headlines is how ordinary Russians are adapting. Many use peer-to-peer platforms like LocalBitcoins or P2P on Binance to buy crypto with rubles, bypassing bank blocks. Others hold crypto as a hedge against inflation, especially since the ruble lost over 40% of its value against the dollar since 2022. The government doesn’t stop you from owning it—they just make it harder to spend, trade, or cash out without paperwork. And if you’re a foreigner living in Russia? You’re not exempt. The rules apply to anyone physically present, regardless of nationality.

Below, you’ll find real-world breakdowns of Russian crypto rules, scams targeting locals, and how miners and traders are navigating the gray zones. No theory. No fluff. Just what’s actually happening on the ground.