Russia is preparing to restrict access to global crypto exchanges this summer, experts said, suggesting that authorities are planning to shift trading from foreign platforms to domestic ones under the upcoming regulatory framework.
Russia To Restrict Foreign Crypto ExchangesOn Tuesday, experts said Russia will likely block foreign crypto exchanges by summer 2026 as lawmakers advance the highly anticipated domestic framework, expected by July 1, to bring the industry out of the shadows.
“We expect that Roskomnadzor may begin mass blocking of websites of crypto exchanges and large exchangers not registered in Russia as early as this summer. Most likely, they will act according to the YouTube blocking model — they will delete DNS records in the Russian segment of the Internet and continue to fight against means of circumventing the blocks,” the analyst stated.
Meanwhile, Dmitry Machikhin, lawyer and founder of BitOK, considers a “Belarusian scenario” highly possible. Notably, only companies operating under Belarus’ special regime can conduct cryptocurrency transactions, while individuals are prohibited from buying and selling digital assets on foreign platforms.
Machikhin noted that completely restricting operations is impossible, citing Binance as an example. The global exchange still has over 1 million Russian customers despite its departure from the country’s market. Therefore, the chances of a direct ban on transactions using foreign exchanges are low, the lawmakers added.
EU Explores Broader SanctionsIgnat Likhunov, founder of Cartesius law agency, agreed with the other two experts, affirming, “It seems that blocking measures are being prepared in parallel with the creation of a ‘white’ zone, and conditions for ‘illegal’ exchangers and unfriendly foreign exchanges will deteriorate.”
As a result, authorities will likely hold them accountable in absentia and block access to the foreign exchanges that enforce sanctions against Russia for various reasons, including economic or non-compliance with the law on data landing.
Legal documents show that the Commission has proposed a broader prohibition “instead of attempting to ban copycat Russian crypto entities spun out of already sanctioned platforms.” The proposal focuses on stopping the growth of successors to Russia-linked crypto exchange Garantex, while aiming at payment platforms such as A7 and its related ruble-pegged stablecoin A7A5.
The Commission also suggested adding 20 banks to the list of sanctioned entities and a ban on any digital ruble-related transactions.
