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 Exchanges
On 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.
According to a report by local news outlet RBC Crypto, industry participants believe authorities will soon begin restricting access to overseas exchanges, similar to the Telegram and YouTube block.
Nikita Zuborev, senior analyst at crypto exchange aggregator Bestchange.ru, told the news media outlet that this scenario is likely, asserting that as soon as the domestic market enters the new regulatory regime, “there is an almost 100% chance that the fight against major competitors will begin.”
“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.
However, Zuborev cautioned that if global exchanges are not allowed to obtain licenses or to operate as agents of domestic exchanges or brokers, a part of the market will move underground, increasing fraud, complicating regulation, and resulting in higher commission fees.
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 Sanctions
Ignat 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.”
He pointed out that the lack of “real levers of influence” over foreign exchanges, noting that the platforms don’t need to hurry to comply with any requirements of Russian legislation.
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.
It’s worth noting that the European Union has been exploring implementing strict sanctions on all crypto transactions linked to Russia to limit sanctions evasion. As reported by Bitcoinist, the European Commission is strengthening its crackdown on the country’s use of digital assets to evade sanctions by considering measures to ban all Russia-related crypto transactions.
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.
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