Russia Reaffirms Ban on Bitcoin and Ethereum Payments

Quick Breakdown: 

• Russian lawmakers confirm Bitcoin and Ethereum will remain banned for everyday payments, restricting crypto to investment use.
• The Central Bank of Russia continues to oppose crypto payments, citing risks to financial stability and monetary control.
• Despite the ban, Moscow is allowing limited crypto use in cross-border trade and economic reporting.

Russian lawmakers will not permit Bitcoin or Ethereum for everyday payments, reinforcing the country’s long-standing ban on cryptocurrencies as a means of exchange, a senior member of parliament said.

Anatoly Aksakov, chair of the State Duma Committee on Financial Markets, said digital assets will remain restricted to investment and settlement use. At the same time, payments for goods and services must be conducted exclusively in rubles.

Speaking to state news agency TASS, Aksakov said lawmakers remain aligned with the Central Bank of Russia in opposing crypto payments between individuals and businesses. Cryptocurrencies, he said, “will never become money in Russia,” despite rising domestic adoption and renewed debate over regulation.

Russia formally banned the use of digital assets for payments in 2020, a position that has remained unchanged even as crypto trading, mining, and cross-border usage have expanded.

Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets, said that payments within Russia must be made in rubles, and that cryptocurrencies such as Bitcoin and Ethereum will never become currency in Russia and can only be used as investment instruments.…

— Wu Blockchain (@WuBlockchain) December 17, 2025

Central bank maintainsa  hard line

The central bank has consistently opposed the use of cryptocurrencies in domestic payments. Governor Elvira Nabiullina has repeatedly called for strict limits on crypto transactions, exchanges, and mining activity, citing risks to financial stability and monetary sovereignty.

For years, the central bank and the Ministry of Finance have been locked in a policy standoff, with proposals ranging from outright bans to tightly regulated legalization. Most initiatives have stalled in parliamentary committees, leaving Russia’s crypto regulatory framework fragmented.

Gradual shift in limited use cases

Despite the payments ban, Moscow has signalled a cautious openness toward regulated crypto activity in specific sectors. Aksakov has previously acknowledged that Russian companies have conducted billions of dollars in cross-border trade using cryptocurrencies, while central domestic banks report growing client interest in digital assets.

Recently, a senior aide to President Vladimir Putin publicly supported including crypto-related flows in the country’s balance of payments.

Still, lawmakers insist that any expansion of crypto usage will stop well short of legalizing it as money, preserving the ruble’s exclusive role in domestic payments.