- Russia may block foreign crypto exchanges as early as summer to boost domestic platforms.
- Mass blocking could raise fees, fraud, and push trading into unregulated markets.
- Experts say full enforcement is unlikely; crypto trading will adapt to new rules.
Russia is edging closer to a major crypto crackdown. Industry experts believe foreign cryptocurrency exchange websites could be blocked as early as this summer. The move aligns with the government’s plan to introduce new crypto market laws by July 1.
According to Wu Blockchain, citing RBC, the restrictions could mirror a model already in place in Belarus. The scale of the impact could be enormous, given that Russia processes roughly 50 billion rubles in crypto transactions daily.
According to RBC, industry experts believe Russia could block foreign cryptocurrency exchange websites as early as this summer to align with the progress of local crypto regulations. This timing may coincide with the government’s pledge to introduce new crypto market regulatory…
— Wu Blockchain (@WuBlockchain) February 18, 2026
Russia’s Push to Regulate Its Crypto Market
The Russian government has made its intentions clear. This spring, the country plans to adopt laws that regulate crypto transactions within its own infrastructure.
The Ministry of Finance confirmed that current crypto flows operate entirely outside the regulated zone. Sergey Shvetsov, Chairman of the Supervisory Board of the Moscow Exchange, put a number on the problem. He noted that Russians currently pay about $15 billion in fees to global crypto exchanges each year.
He added that the Moscow Exchange intends to start competing for that revenue as soon as possible.
Experts Warn of Likely Website Blocks
Analysts are not treating this as a distant possibility. Nikita Zuborev, senior analyst at Bestchange.ru, told RBC that blocks on foreign exchanges are a fairly likely scenario. He expects Roskomnadzor to begin mass blocking of unregistered crypto exchange websites as early as this summer.
The approach, he said, would follow the YouTube blocking model. That means deleting DNS records in Russia’s internet segment and targeting tools used to bypass restrictions.
Zuborev warned that tighter restrictions on foreign services could push more activity underground, raise fees, and increase fraud risks.
The Belarusian Model as a Blueprint
Belarus offers a possible preview of what Russia may do. Dmitry Machikhin, a lawyer and founder of BitOK, told RBC that a Belarusian-style scenario is highly likely for Russia.
In Belarus, crypto trading is only legal through exchanges operating under the High-Tech Park regime. Since 2024, individuals cannot buy or sell crypto outside approved Belarusian platforms. Still, Machikhin noted that full enforcement is nearly impossible.
Even after Binance officially exited Russia, at least one million Russian users reportedly remained active on the platform.
Enforcement Gaps Leave the Market in Limbo
Legal experts agree that Russia lacks real leverage over foreign exchanges.
Ignat Likhunov, founder of legal agency Cartesius, told RBC that foreign platforms are in no rush to comply with Russian laws. He expects authorities to hold them accountable in absentia and restrict access to their sites instead.
Likhunov also pointed out that exchanges enforcing sanctions against Russian users may face blocks for economic reasons.
Zuborev added a sharp observation: given the cash volumes flowing through crypto, blocking websites looks more like a public relations move than genuine regulation. Regardless of the tactic, he said, the market will respond quickly.
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