From 2026, Russia plans to enforce fines for cryptocurrency payments, a practice banned since 2021. Individuals will incur fines between 100,000 and 200,000 rubles (over 2,500 USD), while companies face penalties potentially reaching 1 million rubles (about 13,000 USD).
The State Duma will discuss the relevant bill this fall to set a clear legal foundation for cryptocurrency payments. Drafted by the Bank of Russia and the Finance Ministry, it proposes penalties alongside the confiscation of illegally used crypto assets.
Despite the prohibition, the volume of crypto transactions in Russia is growing, driven by the need to evade financial sanctions. Cryptocurrency remains a preferred method for certain payments, actively utilized in sectors like remote labor, indicating a trend toward informal economic operations.
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