Russia Monitors Crypto Internally, Uses It Externally to Dodge Sanctions

The Bank of Russia has added 2,600 crypto wallets to its monitoring system used by banks and law enforcement. This move comes as more than 1 billion rubles flowed into these addresses during the first half of 2026.

More than 74% of pyramid schemes identified by the regulator used cryptocurrencies to attract funds, down from 84% in 2025 but still the dominant payment channel for financial fraud in Russia.

Russia is simultaneously using cryptocurrency for international trade settlement to circumvent Western sanctions. The government legalized crypto for cross-border payments in late 2024 and expanded the framework through 2025 and 2026.