Tag: cryptocurrency regulation Russia

Russian banks now automatically freeze cash withdrawals after crypto-to-fiat conversions, limiting users to 50,000 rubles per day. This strict system targets everyday users, not just criminals, as part of a broader strategy to control domestic crypto use while allowing institutional trading.

Russia allows crypto ownership but bans its use as payment. Only ultra-wealthy investors can legally trade it, while ordinary citizens operate in a gray zone. The digital ruble is set to launch in 2026, replacing crypto as the state's preferred digital currency.