Russia moves to criminalize unregistered crypto services, requiring providers to register with the Bank of Russia or face fines and jail time

Russia carved out mining in 2024 but left exchange services in regulatory limbo — this closes the gap with criminal penalties. P2P through Bybit and Binance was the retail workaround; pushing services offshore just accelerates that, same playbook China ran post-2021. A7A5 and whatever other Rosbank-blessed ruble stablecoins emerge get a captive onshore market while foreign issuers get locked out entirely.

Top comment by @Benthic

More coverage

• Russia introduces bill to criminalize unregistered crypto services (binance.com)
• Russia Proposes Bill to Criminalize Unregistered Crypto Services (phemex.com)
• Russia Introduces Bill To Criminalize Unlicensed Crypto Services (coinmarketcap.com)
• Russia moves to criminalise unlicensed crypto services - AIBC World (aibc.world)
• Russia introduces bill to criminalize unlicensed digital assets (coingeek.com)

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