{"id":48226,"date":"2026-07-20T17:43:51","date_gmt":"2026-07-20T17:43:51","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=48226"},"modified":"2026-07-20T17:43:51","modified_gmt":"2026-07-20T17:43:51","slug":"russia-moves-to-rein-in-crypto-fraud-with-new-legislation","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=48226","title":{"rendered":"Russia Moves to Rein In Crypto Fraud With New Legislation"},"content":{"rendered":"

Bitcoin Magazine<\/a>
\n
\nRussia Moves to Rein In Crypto Fraud With New Legislation<\/a><\/p>\n

<\/div>\n

Russia is pushing ahead with regulating the cryptocurrency market, with the State Duma considering a bill on combating fraud in the industry, according to reports.\u00a0<\/p>\n

The bill will look at \u201ccombating the illegal use of cryptocurrencies within our country,\u201d Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, reportedly said.<\/p>\n

Lawmakers will vote on the bill in its second and third readings this week, according<\/a> to Russia\u2019s Tass news agency, and will also work to provide \u201can opportunity for those who use cryptocurrencies for international transactions to do so within the legal framework.\u201d<\/p>\n

Using crypto has been illegal in Russia as a form of payment since 2022 but lawmakers in the country have been open about using them for international settlements.<\/p>\n

President Vladimir Putin has also previously spoken about mining digital assets, and admitted back in 2022 that the country had \u201ccertain competitive advantages\u201d in the sector thanks to its surplus of energy and cold climate.\u00a0\u00a0<\/p>\n

Last year, the president signed a law allowing cryptocurrency mining in the country, allowing legal entities to mine if they have been approved by the digital ministry. Foreign operations are currently banned from doing business in the country.<\/p>\n

Back in 2023, the Russian legislature passed a bill legalizing the use of digital currency as a way to make international payments. The bill likely has helped the country skirt international sanctions: The U.S. and European governments sanctioned Russia when it annexed Crimea in 2014, and Western nations have stepped up penalties since it invaded Ukraine in 2022.<\/p>\n

Top Russian banks are planning<\/a> to launch crypto trading services when new regulations take hold in the country. Lawmakers have said that investors will have to pass a test to start crypto investing and will be limited on the amount they can buy.\u00a0<\/p>\n

Pro-Bitcoin Putin?<\/h2>\n
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\n
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BREAKING: \"\ud83c\uddf7\ud83c\uddfa\" Russian President Putin says “Who can ban #Bitcoin<\/a>? Nobody.” pic.twitter.com\/6mJ664BZZ8<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) December 4, 2024<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Russia has long had a complex history with regulating cryptocurrencies but Putin has previously praised Bitcoin.\u00a0<\/p>\n

While speaking at a forum in Moscow in December 2024, the leader of Russia was talking about the dominance of the dollar and other payment methods when he highlighted that new technologies were emerging that could help people move money.\u00a0<\/p>\n

\u201cFor example, Bitcoin, who can ban it? Nobody,\u201d he said at the time. \u201cAnd who can prohibit the use of other electronic payment instruments? Nobody, because these are new technologies.\u201d\u00a0<\/p>\n

This post Russia Moves to Rein In Crypto Fraud With New Legislation<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Russia Moves to Rein In Crypto Fraud With New Legislation Russia is pushing ahead with regulating the cryptocurrency market, with the State Duma considering a bill on combating fraud in the industry, according to reports.\u00a0 The bill will look at \u201ccombating the illegal use of cryptocurrencies within our country,\u201d Anatoly Aksakov, chairman of […]<\/p>\n","protected":false},"author":1,"featured_media":48227,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-48226","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nRussia Moves to Rein In Crypto Fraud With New Legislation - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=48226\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russia Moves to Rein In Crypto Fraud With New Legislation - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Magazine Russia Moves to Rein In Crypto Fraud With New Legislation Russia is pushing ahead with regulating the cryptocurrency market, with the State Duma considering a bill on combating fraud in the industry, according to reports.\u00a0 The bill will look at \u201ccombating the illegal use of cryptocurrencies within our country,\u201d Anatoly Aksakov, chairman of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptomag.finance\/?p=48226\" \/>\n<meta property=\"og:site_name\" content=\"Cryptomag\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-20T17:43:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/07\/Russia-to-Rein-in-Crypto-Fraud.jpg\" \/>\n<meta name=\"author\" content=\"Crypto Magazine\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptomagz\" \/>\n<meta name=\"twitter:site\" content=\"@cryptomagz\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Crypto Magazine\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=48226#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=48226\"},\"author\":{\"name\":\"Crypto Magazine\",\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/#\\\/schema\\\/person\\\/f749cd846c4f13ef717c12a20ce9d040\"},\"headline\":\"Russia Moves to Rein In Crypto Fraud With New Legislation\",\"datePublished\":\"2026-07-20T17:43:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=48226\"},\"wordCount\":446,\"image\":{\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=48226#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptomag.finance\\\/wp-content\\\/uploads\\\/Russia-to-Rein-in-Crypto-Fraud-E1FLdt.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=48226\",\"url\":\"https:\\\/\\\/cryptomag.finance\\\/?p=48226\",\"name\":\"Russia Moves to Rein In Crypto Fraud With New Legislation - 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