Banks have intensified checks on businesses using USDT: what lies behind the new requests to legal entities
The increased requests from Russian banks to corporate clients about the origin and economic purpose of cryptocurrency transactions, primarily involving USDT stablecoins, are unrelated to the recently adopted law on digital rights. As explained by Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, the key reason lies in the active use of digital assets in shadow schemes.
Why banks have become more active
The new regulation, widely discussed in the market, will only take effect on September 1, 2026. However, credit institutions have already begun requesting explanations from legal entities about the purposes of cryptocurrency transactions. In my assessment, this is a signal: financial institutions are moving from passive observation to preventive control, seeking to minimize regulatory and reputational risks.
Aksakov emphasizes that cryptocurrencies and stablecoins are increasingly appearing in illegal operations, including the financing of anti-Russian activities. Through such instruments, malicious actors attempt to conceal payment trails, and banks, receiving characteristic signs of suspicious transactions from the regulator, are forced to respond.
It is important to understand: banks themselves already have established methodologies for assessing client integrity. Requests about the "economic purpose" are not a formality but part of in-depth compliance that allows filtering out transactions that do not match the declared business profile.
What will change by September 2026
After the law takes effect, control will become even stricter. In parallel, the retail segment is also being prepared: the Bank of Russia has proposed limiting cryptocurrency purchases for non-qualified investors to 300,000 rubles per year per intermediary. Bitcoin, Ethereum, and USDT have already been included in the list of permitted assets, and comments on the draft are being accepted until August 24.
Business interest in digital currencies is also fueled by market indicators. In July 2026, bitcoin demonstrated a yield of 10.1%, becoming the most profitable instrument in the Central Bank's review and outpacing all Russian industries and foreign securities. The closest competitor lagged by more than 2%.
The growing popularity of crypto assets goes hand in hand with tightening control. The state is establishing clear rules of the game, and banks are strengthening checks—this is a natural stage of market maturation.
My conclusion: the current situation is not a temporary phenomenon but the beginning of the systemic integration of cryptocurrencies into the legal framework. Businesses working with USDT should prepare transparent documentation for transactions in advance to avoid blocks and claims. Players who perceive the new requirements as an opportunity for legalization will gain a competitive advantage in the coming years.