Russia to block foreign crypto exchanges under new regulation plans

Russia may begin blocking access to foreign cryptocurrency exchanges as early as summer 2026 as authorities move to bring digital-asset trading under formal supervision.

Industry experts cited by RBC say the measures could align with new crypto legislation expected to take effect by July 1, replacing the temporary framework currently governing digital assets.

The country’s crypto market handles about 50 billion rubles in daily trading volume, showing its scale despite limited oversight.

The planned restrictions signal a shift toward tighter control over exchanges, blockchain transactions, and crypto investment flows, as authorities seek to regulate activity and redirect revenue toward domestic infrastructure.

Domestic platforms become priority

Russian authorities appear determined to move crypto trading onto regulated domestic exchanges.

Sergey Shvetsov, Chairman of the Supervisory Board of Moscow Exchange, said Russian users currently pay about $15 billion each year in fees to foreign crypto platforms.

New regulations could encourage traders to use local exchanges instead, ensuring crypto-related income remains within Russia’s financial system.

Officials aim to integrate Bitcoin trading, altcoin transactions, and crypto wallet activity into regulated structures.

At present, cryptocurrency trading in Russia operates largely outside supervision.

Bringing exchanges under national oversight would allow regulators to monitor transactions, enforce compliance, and strengthen control over digital asset flows.

Blocking tools under consideration

Experts say technical restrictions are likely once regulations are introduced.

Nikita Zuborev, senior analyst at Bestchange.ru, said in a report that large-scale blocking of foreign crypto exchange websites is the likely scenario.

Roskomnadzor, Russia’s communications regulator, could restrict access using DNS blocking and internet traffic monitoring.

These tools would target exchanges that do not comply with Russian regulatory requirements.

Foreign crypto platforms may also face restrictions if they fail to meet data localisation laws.

Authorities require digital services to store user data domestically, and non-compliant exchanges could be blocked.

Roskomnadzor is developing artificial intelligence systems to monitor online activity, improving its ability to detect and restrict access to unlicensed crypto services.

Risk of underground trading growth

Experts warn that blocking foreign exchanges may not eliminate crypto trading through international platforms.

Instead, traders could shift to peer-to-peer transactions, decentralised exchanges, and VPN services.

Zuborev said such restrictions could increase fraud risks, raise costs, and reduce transparency.

Rather than reducing crypto activity, tighter controls may push parts of the market into harder-to-monitor channels.

The popularity of global exchanges among Russian users may also make enforcement challenging.

Analysts believe demand for international platforms could continue despite restrictions.

Russia to adopt a model similar to Belarus

Russia may adopt a regulatory approach similar to Belarus, where cryptocurrency trading is permitted only on approved domestic exchanges operating under legal frameworks.

Dmitry Machikhin, founder of BitOK, said such an approach would allow crypto trading while maintaining regulatory oversight.

Limiting access to licensed exchanges could help authorities supervise transactions and keep revenue within the country.

Legal experts also note that blocking foreign exchanges could be justified under data localisation requirements.

This would allow authorities to restrict access without imposing a complete ban.