Russia Moves to Confiscate Crypto in Latest Financial Crackdown

Moscow tightens grip on digital assets as authorities announce sweeping seizure plans—targeting both crypto holdings and local payment networks. Another ’protective measure’ that conveniently funnels control back to the state.

No numbers? No problem. The Kremlin’s playbook stays predictable: when in doubt, grab what you can and call it regulation. TradFi would be proud of the old-school money grab disguised as innovation policing.

Russia is cooperating with crypto exchanges

Meanwhile, Russian regulators have warned industry participants not to assume crypto’s anonymity feature will protect them and allow them to break local laws.

Olga Tisen, head of Rosfinmonitoring’s legal department, stated that exchanges operating in Russia routinely provide user data when requested by authorities.

Tisen emphasized that these practices align with global compliance standards, refuting the common belief that crypto transactions are completely anonymous. She cited Binance as an example, pointing to a dedicated portal on its website for communication with Russian law enforcement.

She said:

“All crypto exchanges and exchangers that have at least one representative office in Russia also interact with law enforcement agencies, providing information about the owner of the crypto wallet.”

The approach underlines the country’s increasing surveillance of digital assets despite its parallel efforts to harness their potential.

The authorities have kick-started plans to develop a national crypto exchange for high-net-worth individuals and cross-border settlements. The proposed exchange will operate under an experimental legal regime, allowing foreign trade participants to use digital assets in international deals.