Russia drafts law to block overseas crypto trading despite 'legalization'
Russian authorities are finalizing a draft law that formally recognizes digital assets but simultaneously makes it nearly impossible for citizens to trade or move crypto outside the country. The text, which is expected to be introduced in the State Duma within days, would impose strict restrictions on cross-border transfers and activity on foreign platforms, tightening capital controls under the guise of regulation.
If enacted, the measure could force domestic off‑ramps, push users toward peer‑to‑peer channels or decentralized tools, and create fresh compliance headaches for global exchanges and custodians. The move carries wider market implications for liquidity and remittances and signals a continuation of Russia’s strategy to limit capital flight and blunt sanctions risks — but it also raises legal and operational uncertainty for Russian holders and foreign service providers working with Russian clients.