Russia's central bank proposed allowing banks to obtain crypto exchange licenses based on their existing banking licenses, Interfax reported.
Russia, Iran and North Korea expanded their use of stablecoins, hacked funds and state-linked exchanges to move more than $100 billion onchain to evade international sanctions.
An Australian national was said to sell cyber tools designed for the U.S. government and its allies to a Russian company known as Operation Zero.
Bitpapa, Garantex and ABCeX were among the cryptocurrency exchanges linked to Russian-tied transactions circumventing Western evasions.
One exchange has processed at least $11 billion in crypto from an office in the same building previously occupied by sanctioned exchange Garantex.
Oleg Ogienko, the public face of A7A5, pitched the ruble-pegged stablecoin as a fast-growing trade rail built to move money across borders despite sanctions pressure.
Government and central bank officials are pushing for legislation to regulate cryptocurrency activities, aiming for passage during the spring session.
Russia’s biggest bank said it plans to offer loans secured by cryptocurrency following a pilot deal with a mining firm, with legislation expected by mid-2026.
Larger rival Sberbank beat Sovcombank to the punch, but it's still running as a pilot program.
Russia’s Moscow Exchange (MOEX) is moving to broaden which digital assets it tracks and trades. Reports say the exchange plans to roll out new indices and futures tied to XRP, Solana, and Tron this year. That will give traders ways to follow price moves without owning the coins directly. Related Reading: Crypto Could Bounce Soon As Fundamentals Firm Up, Tom Lee Says New Crypto Indices Planned According to local coverage, Maria Silkina, who runs the derivative products group at the exchange, outlined the expansion on a recent radio broadcast. MOEX already lists benchmarks for Bitcoin and Ethereum. Now the exchange is preparing indices that mirror three more of the bigger, actively traded tokens, and it intends to offer futures contracts based on those indices. Trading interest in these coins has been high elsewhere. Here, such contracts will be cash-settled and follow the Bank of Russia’s rules. Settlements will happen monthly under the current regime. Perpetual Contracts And Options Under Review Reports note the exchange is also thinking about perpetual futures and options for Bitcoin and Ethereum down the line. Perpetuals do not expire. They use funding rates to stay close to the spot market and allow positions to be held for as long as a trader wishes. That differs from the monthly settled contracts MOEX already uses. Some of the new ideas remain under study and will be launched step by step. The approach looks designed to keep the products inside a tightly regulated frame while allowing more sophisticated trading strategies. Russia Pushes Toward Broader Access In 2025 the exchange added a set of crypto-linked futures, and it listed indices connected to Bitcoin and Ether alongside other structured products tied to overseas ETFs. Reports say that trend continued with some big Russian financial firms offering crypto-tied investment options. Sberbank has already rolled out a product that links to Bitcoin’s price. Market access is slowly widening, but access is still likely to be limited to qualified investors at first. That said, more instruments usually bring more liquidity and more ways to manage risk. Related Reading: Trump Says He Was Unaware Of Abu Dhabi Royal’s $500 Million WLFI Investment What This Means For Traders For investors, the shift offers both opportunity and restraint. Cash settlement removes the need for custody of the underlying token, which can reduce some operational hassles. At the same time, the Bank of Russia’s standards mean the products will be boxed in by clearing and reporting requirements. If adopted, these additions could help price discovery for XRP, Solana, and Tron inside Russia and might attract institutional flows that have been sitting on the sidelines. Featured image from The Moscow Times, chart from TradingView
The new contracts will be based on indices for each token, settled in rubles, and accessible only to qualified investors.
An En+ subsidiary has filed an insolvency claim against the crypto mining firm, adding to pressure from energy debts, regulatory curbs and internal turmoil.
Russian lawmakers plan crypto regulations by midyear, permitting trading for qualified and retail investors while banning anonymous coins and domestic payments.
Once passed, both qualified and non-qualified investors in Russia will gain access to crypto from July 2027.
WhiteBIT said on its website that it has donated over $11 million to support the Ukrainian army and civilian population.
WhiteBIT has actively supported Ukraine's war effort, donating $11 million to military initiatives and processing over $160 million in donations.
Elliptic says the ruble-pegged A7A5 processed nearly 250,000 onchain transactions, demonstrating how stablecoins facilitate cross-border flows under sanctions pressure.
Russia is preparing a landmark legal transformation that would expand who are qualified to buy and own cryptocurrencies in the country. Reports have disclosed that lawmakers in the State Duma are in the final phase of text meant to lower barriers for ordinary Russians, even as they keep safeguards and restrictions in place. Related Reading: Bitcoin’s New Power Buyers: Companies Bought 3 Times What Miners Produced The draft bill has drawn attention because it marks a shift from years of strict limits. According to TASS, the proposal would take cryptocurrencies out of a special financial regulation regime so they become a more common part of financial life for people across Russia. Lawmakers say this could make buying and holding crypto something regular citizens do, instead of a privilege for a few. “A bill has already been prepared that removes cryptocurrencies from special financial regulation, which means, they will be a common occurrence in our lives,” Anatoly Aksakov, chair of the State Duma’s Financial Market Committee, said. Expanded Access With Caps Under the current text, people who are not considered “qualified investors” would be able to buy digital coins up to a certain limit. The figure mentioned is 300,000 rubles per year, which is roughly $3,800. This cap aims to let more Russians participate in crypto while trying to prevent big losses if prices swing wildly. Ordinary buyers would still face conditions. Reports say they will have to meet some basic criteria or checks before gaining access, such as passing a short risk‑awareness step and trading only through licensed brokers or exchanges. This is meant to keep unregulated peer‑to‑peer trading from dominating. Professional or qualified market players would face fewer limits. They could trade and hold a wider range of cryptocurrencies with no annual restrictions, though they may still have to demonstrate understanding of risks. Legislative Push And Timing Lawmakers have said the draft is ready and will be discussed during Russia’s spring parliamentary session. If the State Duma passes the bill, implementation could start later in 2026. Aksakov told state media that this move could make crypto “a normal part of life” for many Russians. At the same time, Russian regulators continue to work on other crypto rules. The Bank of Russia has said it plans to set out penalties for illegal crypto intermediaries starting in 2027 and is pushing for a wider regulatory framework that covers both qualified and ordinary investors. Related Reading: Ethereum Could Surge To $7,500 And Leave Bitcoin Behind, Banking Giant Says Balancing Risk And Use Russia still bans using cryptocurrencies to pay for goods and services within the country, a rule in place since 2021. Officials say the new bill would not change that. Instead, the focus is on investment and holding, not daily spending. Featured image from Unsplash, chart from TradingView
Anatoly Aksakov, chair of State Duma's Financial Markets Committee, said a draft bill is ready to let non-qualified investors trade crypto.
A7A5, a ruble-linked stablecoin few outside Russia had heard of a year ago grew the most of any stablecoin, outpacing both USDT and USDC over the past 12 months.
The era of the hooded hacker hoarding Bitcoin in a dark web wallet is over. In 2025, the center of gravity in the illicit cryptocurrency economy shifted decisively away from the volatility of the original cryptocurrency and toward a dense, dollar-linked shadow system. According to new Chainalysis data shared with CryptoSlate, stablecoins accounted for 84% […]
The post Stablecoins just replaced Bitcoin for crime on the dark web – and the reason why is a $154 billion nightmare appeared first on CryptoSlate.
Non-qualified investors would be allowed to trade no more than 300,000 rubles annually per licensed intermediary.
Bank of Russia outlined a new framework intended to let retail and qualified investors buy crypto under defined tests and caps by 2027.
According to statements reported by Russian news agencies, Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, said cryptocurrencies “will never become money” in Russia and should be treated only as investment instruments. He said that where a payment is required, it must be made in Russian rubles. Related Reading: Ethereum Meets Wall Street: JPMorgan Rolls Out Tokenized Fund Ruble Remains Sole Payment Unit Based on reports, that stance matches existing law. A 2020 federal law on digital financial assets defines digital currency as something different from Russia’s monetary unit and bars its use as a means of payment inside the country. The law treats tokens and classic cryptocurrencies as property or investment items rather than legal tender. Russia Central Bank Concerns Over Stability Officials in Moscow have repeatedly echoed the central bank’s worry that allowing crypto for everyday payments could harm monetary control and financial stability. Regulators say the ruble’s role must be protected, and that volatility in assets like Bitcoin and Ethereum makes them unsuitable for regular transactions. Limited Windows For Crypto Use Reports have also noted that while crypto cannot be used to buy goods and services domestically, it can still exist in regulated pockets. Lawmakers and regulators are framing cryptocurrencies as tradable assets, not cash. Some narrow exceptions are being discussed for corporate or cross-border operations under strict rules, but those do not change the basic ban on domestic payments. What The Law Means For People And Business Practical effects are clear. Russian residents and businesses cannot accept digital coins in place of rubles for sales or services. At the same time, individuals can hold, trade, or invest in crypto under the framework that separates ownership from payment rights. The law also requires public officials to declare holdings in digital assets, linking transparency rules to the new regime. Related Reading: 5,606 Bitcoin: Lightning Network Sets Fresh Capacity Record A Narrowing Path Forward Based on reports from several outlets, the political message is firm: payments stay in rubles. Lawmakers are talking about refining rules for trading, custody and reporting, but they are not signalling a shift toward letting cryptocurrencies replace the ruble for daily use. That position keeps Russia on a different track from some countries that permit crypto payments or give coins legal tender status. Featured image from Unsplash, chart from TradingView
Sanctions, capital controls and Russia’s improvised financial plumbing helped create A7A5, a ruble stablecoin built on a currency rarely used in global commerce, allowing it to appear legally at major events even as its presence leaves compliance teams panicked.
VTB, Russia’s second-largest bank, has told clients it plans to let them buy and sell real cryptocurrencies through its brokerage service, with a target rollout in 2026 pending regulator approval. Related Reading: Bitcoin Crash Fails To Shake Ripple CEO — He Still Calls For $180K According to the bank, the move would go beyond the derivative products that most Russian banks have offered so far. It is a clear shift toward opening traditional finance to digital assets, at least for now among wealthy clients. Client Eligibility And Timetable Reports have disclosed that VTB intends to begin with high-net-worth customers only. The bank set thresholds for its initial offering: clients with assets above $1.3 million or annual income over $649,000 would be eligible at first. Andrey Yatskov, who heads VTB’s brokerage arm, said there is “sharp demand” from clients for access to actual crypto, not just paper products tied to token prices. The bank has picked 2026 as the planned start year, but it made that clear the launch depends on regulators signing off. Real Crypto, Not Just Contracts Based on reports, the service would allow ownership of the underlying coins — not merely derivative contracts or token-linked notes. That is a significant distinction in Russia, where until recently banks were limited to offering exposure through derivative instruments. Allowing customers to hold coins directly would require legal and compliance work, from custody arrangements to anti-money-laundering controls. Those steps are on the critical path before any retail expansion can happen. Potential Market Signals VTB has also given investors a sense of how it views crypto as an asset class. The bank recommended a 7% allocation to crypto for some investor profiles, and its internal forecasts have mentioned medium-term Bitcoin price targets in the $200,000–$250,000 range under favorable conditions. If VTB moves forward, it could be the first major Russian bank to operate in this way — a signal that some parts of the financial sector see token ownership as something to be offered through mainstream channels. Related Reading: A New Era Begins: CFTC Approves Spot Bitcoin On Regulated US Markets Regulatory Hurdles And Geopolitics The plan is not risk free. Russian regulation of crypto is still evolving, and any permit to offer direct trading will require approval from the relevant authorities. Sanctions and other geopolitical pressures could alter timelines or force changes to how the service is structured. Compliance teams will need to reconcile domestic rules with international restrictions that affect many big banks operating in or dealing with Russia. For now, the rollout remains conditional. VTB’s timeline, client criteria, and product design all hinge on legal clarifications and regulator consent. Market participants and clients will likely follow announcements from the Bank of Russia and other agencies to judge how soon broader access might come. Featured image from Pexels, chart from TradingView
In 2026, VTB plans to be the first Russian bank to allow clients access to spot crypto trading services.
A billion-pound laundering network spread across the UK used cryptocurrency to move criminal proceeds and help Russian interests evade sanctions, according to the NCA.
US President Donald Trump on Friday voiced support for a Senate measure that would let the US impose tariffs of up to 500% on imports from nations still buying Russian energy. “It would be okay with me,” he said. Related Reading: From Dotcom To Crypto: Veteran Analyst Says The Bull Run Isn’t Over Based on reports, the proposal names oil, natural gas, petroleum products and uranium as covered goods and highlights major buyers such as India and China. The move is described as a tool meant to squeeze Russia’s export revenues, but the measure remains proposed and has not become law. Tariffs Up To 500% On Energy Imports Reports have disclosed that the bill would give the President authority to slap punitive duties — as high as 500% — on goods coming from any country judged to be materially trading in Russian energy. JUST IN: ???????????????? President Trump approves bill allowing 500% tariffs on countries trading with Russia. pic.twitter.com/qaBKVUMwTN — BRICS News (@BRICSinfo) November 17, 2025 Lawmakers behind the text say the measure targets energy purchases that help fund Moscow. How the tariff would be applied, and the exact list of goods and exceptions, is still being worked out in committee. Legal experts warn that a 500% duty would raise immediate questions about trade rules and possible retaliation. Immediate Shock To Risk Assets Markets reacted fast. Crypto traders moved to the exits in the first hours after the news, pushing volatility up across major tokens. Nearly $620 million in crypto positions were liquidated in 24 hours, forcing over 152,000 traders out, with a single $30 million BTC-USD order on Hyperliquid being the largest hit. Major altcoins like XRP, Solana, and Cardano saw sharp swings, and Ethereum dropped toward the $3,000 level. Bitcoin took a 1% hit following the news. In the last week, BTC has lost close to 10% of its value since hitting an all-time high of $126k on October 6, 2025. The crypto market is highly sensitive to geopolitical trade shocks. Analysts warn that a proposed 500% tariff on countries trading with Russia—significantly higher than past rates that caused a $200 billion wipeout—could trigger severe panic selling. Analysts believe that if the large-scale tariff is brought into effect, its short-term effect could decrease Bitcoin and major altcoins’ prices by 10% to 20% due to increased economic uncertainty and panic. Related Reading: Forget The Obituaries—Cardano Is Alive, Says Bitcoin Analyst Wider Economic Ripples And Energy Prices If the tariffs were ever applied, energy flows would be disrupted. That could push crude and gas prices higher, and higher energy costs usually feed into inflation. Central banks might respond by holding rates higher for longer, which can hurt risk assets including crypto. Yet, history shows that once a new price regime takes hold, people sometimes seek alternatives to cash and bank deposits. That dynamic is part of why crypto markets are watching this proposal so closely. Featured image from David Hume Kennerly/Getty Images, chart from TradingView
The Finance Ministry noted growing crypto adoption, while the central bank laid out plans to let banks participate under strict capital and reserve requirements.