Russia has reaffirmed its ban on using cryptocurrencies for domestic payments, ensuring all transactions within the country use only the ruble.
This position, stated by Anatoly Aksakov, chairman of the State Duma’s Committee on Financial Markets in a December 15, 2025 interview with TASS, aligns with long-term policy to protect the national currency.
Cryptocurrencies like Bitcoin and Ethereum lack legal tender status, as confirmed in the Federal Law No. 259-FZ, dated July 31, 2020, from the Central Bank of Russia.
Dual Approach: Investment vs. Payment
The policy separates cryptocurrency use for payments from ownership.
A 2020 law banned digital assets for buying goods and services, but Russians can hold and trade them as investments, per reports from Freeman Law.
Ownership above 600,000 rubles requires tax reporting, as outlined in the same legislation. This setup allows market participation without undermining the ruble policy.
Exception for Cross-Border Trade
Russia permits cryptocurrencies in international trade to address sanctions, including SWIFT restrictions. A July 30, 2024, bill legalized this use for businesses, dated August 7, 2025. This exception supports trade with partners avoiding traditional banks.
Legal Framework and Central Bank Stance
The Central Bank of Russia maintains a strict view on domestic cryptocurrency regulation. Governor Elvira Nabiullina has called for bans on transactions and mining.
Recent laws, effective January 1, 2025, impose taxes on mining and sales at 13% to 15%, per a November 29, 2024, law signed by the president. Mining is legalized nationally but banned in some regions on December 16, 2025.
This framework balances control with strategic flexibility in Russia crypto regulation.
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