Russia may block foreign crypto exchanges by summer 2026 as new law aims to capture $15 billion in annual trading fees

Russian authorities are preparing to block access to foreign cryptocurrency exchanges by as early as July 2026, as new legislation moves to redirect an estimated $15 billion in annual trading fees from offshore platforms toward domestic exchanges operating under state supervision.

According to reporting by Russian business outlet RBC, the proposed measures would align with new legislation expected to take effect by July 1, replacing the temporary framework that currently governs digital assets.

The shift in Russia crypto regulation aims to bring crypto trading under formal state supervision and redirect revenue toward domestic infrastructure.

Russia’s crypto market reportedly handles around 50 billion rubles in daily trading volume, underscoring its scale despite limited oversight.

Policymakers now appear determined to move that activity into regulated domestic channels under a strengthened Russia crypto regulation regime.

Domestic exchanges prioritized under Russia crypto regulation

A central goal of the evolving Russia crypto regulation strategy is to channel trading activity toward local platforms.

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

By tightening Russia crypto regulation, authorities hope to retain more of that capital within the domestic financial system.

Integrating Bitcoin and altcoin trading into nationally supervised exchanges would allow regulators to monitor transactions, enforce compliance standards, and track crypto wallet activity more effectively.

At present, cryptocurrency trading in Russia operates largely outside direct regulatory oversight.

A comprehensive Russia crypto regulation framework would formalize exchange licensing requirements and potentially restrict non-compliant offshore platforms.

Officials have not announced a complete ban on foreign exchanges. Instead, the policy direction suggests a controlled transition, where only approved platforms operating within Russia’s legal infrastructure would be permitted.

Technical blocking tools under review

Experts cited by RBC indicate that technical restrictions may follow once updated Russia crypto regulation laws take effect. Nikita Zuborev, senior analyst at Bestchange.ru, reportedly said that large-scale blocking of foreign crypto exchange websites is the most likely scenario.

Such enforcement would likely involve Russia’s communications watchdog, Roskomnadzor, which has the authority to restrict access to online services.

Roskomnadzor can implement DNS blocking and monitor internet traffic to limit access to non-compliant platforms.

Foreign exchanges may also face restrictions under Russia’s data localisation laws, which require digital services operating in the country to store user data domestically.

Platforms failing to meet those requirements could be blocked without a blanket prohibition on crypto trading itself.

Roskomnadzor has previously stated that it uses technological systems to monitor compliance with Russian internet laws.

In public communications, the agency has said it takes measures “to restrict access to prohibited information” in accordance with national legislation, a mandate that could extend to unlicensed crypto services under the new Russia crypto regulation framework.

Risks of underground trading

Analysts warn that stricter Russia crypto regulation could have unintended consequences. Blocking access to major global exchanges may not eliminate demand for international platforms.

Instead, traders could migrate to peer-to-peer services, decentralized exchanges, or virtual private networks.

Zuborev cautioned, according to RBC, that such restrictions may increase fraud risks, raise transaction costs, and reduce transparency.

If activity shifts to less regulated channels, enforcement could become more complex rather than simpler.

The experience of other jurisdictions suggests that demand for global liquidity and diverse trading pairs often persists even under tighter national controls.

This dynamic presents a challenge for policymakers implementing Russia crypto regulation while attempting to preserve market stability.

Belarus-style model under consideration

Some industry observers believe Russia crypto regulation may resemble the approach taken by Belarus, where cryptocurrency trading is permitted only through approved domestic exchanges operating within a defined legal framework.

Dmitry Machikhin, founder of BitOK, suggested that such a model would allow crypto trading to continue while maintaining oversight.

A controlled licensing system could enable authorities to supervise transactions, enforce compliance standards, and ensure that trading-related revenue remains within Russia’s financial system.

Legal experts also note that data localisation requirements provide a legal basis for restricting access to non-compliant foreign platforms without imposing a comprehensive ban on digital assets.

For policy makers and crypto investors alike, the direction of Russia crypto regulation will determine whether the market becomes more centralized and state-supervised or fragments into parallel domestic and offshore ecosystems.

As July 2026 approaches, the implementation details of Russia crypto regulation will likely shape capital flows, exchange competition, and investor access in one of the world’s largest crypto markets.