Beginning in 2026, individuals and legal entities in Russia will face administrative fines for using cryptocurrency to pay for goods and services. The proposal was announced by Anatoly Aksakov, head of the State Duma Committee on Financial Markets.
The draft legislation is expected to be reviewed in the fall of 2025. According to the proposed measures, individuals could face fines ranging from 100,000 to 200,000 rubles, while legal entities may be penalized between 700,000 and 1 million rubles. The cryptocurrency used in such transactions would also be subject to confiscation.
Although cryptocurrency payments have been banned in Russia since 2021, the lack of enforcement has allowed such practices to remain widespread — particularly in IT, gaming, online education, and cross-border freelance work. Russian freelancers and developers often receive payments in crypto from foreign clients. Crypto-processing services and Telegram bots continue to facilitate these transactions.
The Bank of Russia and the Finance Ministry jointly developed the bill in an effort to close this loophole. Elvira Nabiullina, head of the Central Bank, has stated that cryptocurrencies are too volatile and are often used for opaque transactions, making them unsuitable as legal tender outside controlled experimental zones.
Importantly, the ownership, purchase, sale, and mining of cryptocurrencies remain legal in Russia. Since 2025, digital assets have been officially recognized as property and are subject to taxation.
Experts: Fines May Backfire and Push Relocants to Return
Despite the government’s intentions, the planned fines may not effectively combat criminal use of crypto but could encourage some Russian professionals working abroad to return. This perspective was shared by Valery Korneev, Chairman of the Union of Digital Platform Users Digital World, said in a comment to NSN.
“Cryptocurrency payments allow companies to avoid taxation and to pay remote employees abroad, especially given the serious issues with transferring foreign currencies,” Korneev noted.
He further emphasized the security implications of having critical software developed outside Russian jurisdiction. “It would be beneficial if people working on such vital technologies were located within our territory,” Korneev added, noting that even civilian software often contains critical components.
