The Bank of Russia is tightening control over the circulation of digital currencies: from now on, using cryptocurrency for payments within the country will be penalized in rubles. In collaboration with the Ministry of Finance, the regulator has prepared a draft amendment to the Code of Administrative Offenses (CAO), establishing liability for using cryptocurrency as a means of payment.
**Penalties for paying with crypto:**
* For individuals: a fine ranging from 100,000 to 200,000 rubles
* For legal entities: from 700,000 to 1,000,000 rubles
* Additionally, confiscation of the digital currency used in the transaction
According to Central Bank representative Andrey Medvedev, these measures are aimed at strengthening the existing ban already enshrined in the law on digital financial assets. The regulator consistently opposes the use of cryptocurrencies for paying for goods and services within the country.
“This is an important step toward eliminating the grey use of digital currencies in the Russian economy,” Medvedev noted.
**What about international transactions?**
Interestingly, the Central Bank allows the possibility of using cryptocurrencies for foreign economic operations (such as international trade), but only within experimental legal frameworks. This approach is meant to test mechanisms and respond promptly to potential risks.
Previously, Central Bank Governor Elvira Nabiullina stated that using cryptocurrency as a payment method in Russia is prohibited, but investing in it—if all rules are followed—is acceptable. Supporting investments while banning payments is a strategy that reflects a cautious, but not hostile, stance on digital assets.
The authorities do not ban owning or investing in cryptocurrency but intend to strictly control any attempts to bypass the ruble’s monopoly in the domestic market. Paying for coffee or services with crypto inside the country is an idea that could now come at a high cost.
