The Russian Ministry of Internal Affairs endorses the ban on unlicensed cryptocurrency exchanges., 2026/04/30 17:32:12

In the effort to combat fraud, it is essential to prohibit unlicensed cryptocurrency exchanges in Russia, stated Alexey Goryaev, deputy head of the Main Criminal Investigation Department of the Ministry of Internal Affairs.

As an example, the official referenced Belarus, where mandatory licensing for cryptocurrency exchanges is already in effect. According to the senior police officer, this regulatory model enables authorities to monitor market participants, enhances the transparency of transactions for the state, and aids in the fight against money laundering and other financial crimes.

The representative of the criminal investigation department emphasized the importance of bringing cold wallets (devices for storing cryptocurrencies without internet connectivity) into the legal framework. Authorities need to establish fundamental rules for the use of such wallets, thereby reducing the risks associated with their use in illegal activities and financing terrorism, Goryaev remarked, lamenting that tracking the assets of cold wallet owners is currently challenging due to the high level of anonymity these tools provide.

The Russian State Duma has accepted for the first reading a government bill titled “On Digital Currency and Digital Rights.” This document tightens the requirements for the circulation of cryptocurrencies and grants the Bank of Russia the authority to permit exchanges or trading platforms to operate in the market, as well as to impose limits on the purchase of digital currencies for Russian citizens.

Previously, the Russian government’s commission on legislative activity approved the Finance Ministry’s proposal to tax income from transactions involving digital currencies. The document includes personal income tax (PIT) for cryptocurrency exchange transactions.