Banks and USDT: The State Duma sheds light on the nature of requests to businesses
The questions that some credit institutions have begun asking corporate clients regarding their operations with cryptocurrencies and stablecoins, primarily USDT, are not related to the entry into force of the law on digital rights. This regulatory act will only take effect on September 1, 2026. The current activity of banks is driven by completely different motives, and this is an important signal for the entire market.
Why banks have become more active right now
The key reason is the persistent correlation between the use of digital assets and illicit activity. Cryptocurrencies and stablecoins, including USDT, are increasingly appearing in schemes to conceal the traces of financial operations, including when financing actions that contradict national security interests. This is precisely why financial institutions are already implementing enhanced verification procedures, without waiting for formal changes in legislation.
Banks receive indicators from the regulator that allow them to identify signs of suspicious transactions. At the same time, the credit institutions themselves have accumulated sufficient experience to assess how diligently a client uses crypto assets in their business activities. Thus, requests for clarification of the economic substance of transactions are not a bureaucratic whim, but an element of the compliance control system being built.
What will change for the market from September 1
From the moment the law "On Digital Currency and Digital Rights" comes into force, the legal landscape will become more defined. However, preparations for regulating the retail segment are already underway in parallel. The Bank of Russia has proposed setting a limit of 300,000 rubles per year on the purchase of cryptocurrencies for non-qualified investors from each intermediary. According to preliminary data, the list of permitted assets will include Bitcoin, Ethereum, and USDT. Discussion of this project will continue through August 24 inclusive.
Interest in digital currencies is also supported by their financial attractiveness. In July 2026, Bitcoin showed a return of 10.1%, becoming the most profitable instrument in the Bank of Russia's review and outpacing all Russian sectoral indices and foreign securities. The closest competitor lagged by more than 2 percentage points.
We are observing a classic pattern: the growing popularity of an asset inevitably entails tighter control. The market is entering a phase where transparency will become not just a recommendation, but a mandatory condition for working with digital currencies. Businesses using stablecoins should prepare in advance for increased attention from banks and the regulator, since in the new reality anonymity will cost more.