Russia is taking a decisive step to rein in crypto markets, approving draft legislation that would force all trading through licensed intermediaries while capping retail investors at just $3,700 per year — a move that could reshape how digital assets function inside the country.

Russia has opened a criminal investigation into Telegram CEO Pavel Durov, accusing him of facilitating extremist and terrorist activity. This comes as Russia's ongoing campaign to restrict and ultimately ban Telegram inside the country.

Over 5,500 cryptocurrency miners have registered with Russia’s tax authority since mining was legalised in November 2024, including 1,500 companies and 4,000 individuals. Despite this, officials estimate that around two-thirds of miners still operate without registration, while new rules require reporting, tax payments, and regional restrictions to control the sector.

Russian authorities said they have no plans to block Google, as doing so would disrupt Android phones used by 60% of Russians. Meanwhile, YouTube faces restrictions, WhatsApp is fully blocked, and Telegram has been slowed under recent Russian internet measures.

Russia is trying to block its people from accessing WhatsApp, the Meta-owned messaging platform, in what the company says is an effort to push users toward the state-backed app Max. The restriction affects tens of millions of Russians who rely on the platform for private communication.

The European Union is preparing to wage war against Russia by implementing a complete ban on all cryptocurrency transactions between EU residents and Russian entities

The EU plans to sanction two Kyrgyz banks and several other foreign lenders for helping Russia move money through crypto and bypass existing sanctions. It also wants to block all crypto transactions linked to Russia, including stablecoins and the digital rouble, to close this route for payments and trade.

BitRiver’s founder and chief executive Igor Runets has been placed under house arrest on tax evasion charges, as a Russian court opened bankruptcy supervision against the company’s main holding firm over unpaid debts. At the same time, large parts of BitRiver’s mining operations have shut down and senior managers have resigned, deepening the crisis at Russia’s biggest Bitcoin miner.

Russian authorities have placed Igor Runets, founder and CEO of BitRiver — one of the country’s largest Bitcoin mining companies — under house arrest as part of an investigation into alleged tax evasion, deepening the legal and financial challenges facing the firm.

Russia has banned crypto exchange WhiteBIT and its parent company from operating in the country, accusing them of helping fund Ukraine’s military and moving money out of Russia through illegal schemes. WhiteBIT says it already blocked Russian users in 2022 and views the ban as confirmation of its pro-Ukraine stance.