Russia Considers Easing Crypto Restrictions Amid Western Sanctions

Russia may soften its strict crypto rules in response to the sweeping sanctions imposed by Western countries following the invasion of Ukraine.

Bank of Russia First Deputy Governor Vladimir Chistyukhin told Kommersant that the central bank is evaluating whether to ease regulations that currently restrict how Russian citizens use digital assets.

Chistyukhin directly linked the review to challenges Russians face when using traditional currencies for cross-border payments due to sanctions.

One key proposal is removing the recently introduced “super-qualified investor” requirement for buying or selling cryptocurrencies with real delivery.

Implemented earlier this year, the classification restricts crypto access to individuals holding more than 100 million rubles ($1.3 million) in assets or earning at least 50 million rubles annually. Critics argue this effectively excludes most Russians from participating in crypto markets.

Chistyukhin said he expects the central bank and finance ministry to reach an agreement by month-end, reflecting a potential shift toward more flexible crypto regulation as Russia adapts to its sanction-driven economic reality.

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