Crypto news

Complaints about the blocking of accounts and transfers related to cryptocurrency have become a daily backdrop of the Russian market. But the problem is deeper than it seems: banks are not acting out of animosity toward digital assets, but because of the rigid structure of legislation and fear of the regulator.

The key point is that the blockings are caused not by the word "crypto" itself, but by anti-money laundering requirements and risk models. Legislation obliges banks to monitor transactions, request documents on the origin of funds, and suspend transactions when suspicions arise (Federal Law No. 115-FZ). Moreover, under Federal Law No. 161-FZ, a bank is required to freeze a transfer and block the recipient's account if funds from a fraud victim are received on the card. And starting in 2025, Federal Law No. 369-FZ comes into force, forcing banks to compensate for missed fraudulent transfers with their own money. This has led to a paradoxical effect: from the sound idea of protecting clients, banks have derived a practice of over-insurance.

"It is more profitable to block a hundred suspicious transactions than to reimburse a loss out of your own pocket one day," — such is the logic of financial organizations.

Crypto transfers come under attack due to the "triangle scheme," when a seller of digital assets receives money from a fraud victim's account on their card and becomes the last link in the chain. The set of triggers among experts matches: a sharp increase in turnover and frequent transfers from different individuals, splitting of amounts and transit operations, inconsistency with the client's profile, lack of economic sense and work through P2P, inability to confirm the source of funds, as well as direct wording in the payment purpose — "USDT," "exchange."

Bank loyalty is an extremely unstable criterion. Today a transaction goes through, tomorrow the risk model changes, and the client receives a request for documents or a block. This caution is explained by fear of the regulator: many banks are not against working with cryptocurrency, but everyone is afraid of losing their license.

From lists of loyal banks to the Bank of Russia registry

Officially, a term such as "loyalty to cryptocurrency" does not exist. No credit institution publishes a list of permitted operations. It is only about differences in monitoring practices. However, the market is changing: the law "On Digital Currencies and Digital Rights," adopted on July 21, 2026, introduces structural changes. Regulation comes into effect on September 1, 2026, and from September 1, 2027, cryptocurrency operations will be possible only through regulated intermediaries — exchanges, brokers, management companies, depositories, and exchange offices. Banks will be obliged to refuse operations outside this framework.

For non-qualified investors, a limit of about 300 thousand rubles per year through one intermediary will be established, and the most liquid assets from the Bank of Russia's list will become available: Bitcoin, Ethereum, USDT. Qualified investors will get access without restrictions on the amount, but the status will be assigned based on property criteria, experience, or education. At the same time, withdrawal abroad is not restricted, but when withdrawing in rubles, full identification will be required. Operations exceeding 100 thousand rubles will be controlled by Rosfinmonitoring. Organizing gray exchange offices carries criminal liability — up to seven years in prison.

Separate requirements will be imposed on exchange offices: activity is recognized as such from two transactions per month totaling over 3.5 million rubles, mandatory inclusion in the Bank of Russia registry and membership in a self-regulatory organization (SRO), own capital of at least 15 million rubles, software located on the territory of the Russian Federation, and storage of transaction data for at least ten years. For the first time in Russian practice, an obligation is introduced to compensate the client for the value of stolen assets.

Conclusions

Here are the main takeaways worth drawing from the current situation:

• there is no crypto-loyalty among Russian banks — there is only a different depth of checks;
• blockings are caused by anti-money laundering requirements and risk models, not by attitudes toward the technology;
• blockings will not disappear entirely, but within the legal framework they will become more predictable;
• for gray P2P and transit schemes, requirements will, on the contrary, be tightened.

Until September 1, it is worth monitoring the formation of the Bank of Russia registry, the emergence of the first licensed services, the list of liquid assets for non-qualified investors, and the norms on criminal liability for illegal circulation.

The practical advice of experts is unanimous: keep evidence of transactions, do not split amounts, do not accept payments from third parties, and do not indicate words referring to cryptocurrency in the transfer purpose. Do not look for a bank that does not ask questions, but build a transparent working model.

My view: the transition to a regulated framework is not a tightening, but an inevitable evolution. The market will finally get clear rules of the game, which in the long term will reduce chaotic blockings and increase trust from both banks and users. However, until 2027, the gray sector will experience maximum pressure, and every market participant needs to take this into account.