- Duma official says Bitcoin will never be allowed for payments in Russia ‘under any circumstances.‘
- Policy cements 2020 payment ban, limiting crypto strictly to investment assets.
- Government expands mining bans in Siberia while Sberbank explores controlled crypto products.
Senior Russian lawmakers explicitly ruled out the possibility of legalizing Bitcoin or any cryptocurrency as a payment method today.
Despite the country’s growing role in crypto mining and cross-border trade, officials confirmed that digital assets will never be permitted to replace the ruble in domestic transactions.
The Official Stance
Anatoly Aksakov, head of the State Duma’s Committee on Financial Markets and a key figure behind Russia’s crypto laws, said cryptocurrencies can only exist as investment tools.
Payments between individuals or companies, he added, must be carried out exclusively in rubles.
‘Under No Circumstances’: The Ruble Monopoly
Speaking to the state news agency TASS, Aksakov said lawmakers fully support the central bank’s long-standing opposition to crypto payments.
He stated that cryptocurrencies will never be recognized as money in Russia under any circumstances.
Related: VTB, Russia’s Second-Largest Bank, to Launch Bitcoin Trading for Clients in 2026
Russia formally banned the use of crypto for payments back in 2020. Since then, the restriction has remained unchanged, even as digital assets have gained wider attention among Russian businesses and consumers.
Officials maintain that allowing crypto payments would weaken monetary control and weaken the role of the national currency.
Internal Conflict: Central Bank vs. Ministry of Finance
Interestingly, the Bank of Russia has consistently taken a hard line against cryptocurrencies. Its governor has previously argued for a broad ban covering crypto transactions, exchanges, and even mining activity.
On the other hand, the Ministry of Finance has pushed for regulation rather than prohibition. The ministry has argued that exchanges should be licensed and traders taxed on profits. This disagreement led to years of stalled legislation.
While the payment ban remains firm, regulators are now moving toward clearer rules for crypto ownership, trading, and oversight, leaving the central bank increasingly isolated in its opposition.
Mining Curbs and Banks Experimenting
Russian authorities are tightening control over crypto mining. The government plans to expand a full mining ban to additional regions in Siberia, following seasonal shutdowns to reduce pressure on the power grid.
Officials have already banned mining in parts of Irkutsk, releasing hundreds of megawatts of electricity capacity. Permanent bans are now expected in nearby regions as well.
At the same time, the executives at Sberbank, one of Russia’s largest banks, have said the lender is working with regulators to offer controlled access to crypto-linked investments for qualified investors.
The focus, bank officials say, is on blockchain infrastructure and digital financial assets rather than open crypto payments. While cryptocurrencies will not function as money in Russia, authorities appear committed to building a tightly regulated framework for investors.
Related: Russia Develops Framework for Elite Crypto Investments & ETF Products
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Source: https://coinedition.com/russia-rules-out-bitcoin-payments-under-any-circumstances/
