Vladimir Putin described cryptocurrency as a tool for criminal activity., 2026/02/19 18:21:11

President of Russia Vladimir Putin stated that terrorist and extremist organizations, along with “criminal organized groups,” are increasingly utilizing digital assets to carry out illegal activities.

According to Putin, the rise of digital currencies has led to the emergence of new forms of unlawful conduct. He noted that there is a growing number of instances where cryptocurrency serves as a “means of committing crimes,” a source of illicit income, or an “object of criminal encroachments.” 

The Russian president attributed the increase in illegal use of digital assets to the inadequacies of the legislative framework, indicating that it needs to be updated to “keep pace with real life.” 

“The practices faced by citizens and businesses often lack systematic and regulatory oversight. Life is outpacing the law. The norm is applied, but life has already moved ahead,” Putin remarked. 

He instructed the Supreme Court to devise a unified approach to handling cases related to digital currencies. In the president’s view, the Supreme Court should propose legislative initiatives and suggest laws for regulating the crypto industry.

On Wednesday, February 18, the head of the Bank of Russia, Elvira Nabiullina, stated that the government aims to introduce accountability for crypto transactions “outside the officially regulated segment.” She assured that the current lack of accountability is being exploited by fraudsters who launder stolen funds through sellers of digital assets. 

Previously, the Constitutional Court allowed Russians to defend their rights to digital currency, even if it is not declared to the tax authorities. The court also ruled to eliminate the legislative gap that required only miners to report information about cryptocurrency.