Buying $USDT is increasingly attracting the attention of Russian banks that service foreign economic activity: in recent days, a number of credit institutions have sent inquiries to corporate clients asking them to disclose details of cryptocurrency transactions.
What exactly are banks requesting
According to participants in the banking and cryptocurrency exchange markets, companies are receiving not only standard questions under Federal Law No. 115-FZ. Banks are also asking for explanations of the economic rationale behind buying $USDT and for confirmation of the status of the counterparty that transferred the cryptocurrency.
Clients are asked to provide confirmation that such a counterparty is included in the Bank of Russia's registry of digital currency exchange operators. However, a key problem arises here: the registry itself does not exist yet. The Bank of Russia is only preparing the regulatory framework for the new legislation.
Sovcombank confirmed that they have indeed requested additional information of this nature from some clients. However, this does not involve mass automatic refusals, but rather a review of operations taking into account the information available to the bank.
Why requests appeared before the registry launch
Lawyer Elizaveta Lobuteva from White Stone considers such requests a step ahead of regulation. In her assessment, they should not be perceived as an already existing obligation for all participants in foreign economic activity. It is more likely a combination of standard control under Federal Law No. 115-FZ and banks preparing for new rules.
Sergei Yudakov, author of the Telegram channel "The Same 115-FZ," links the increased scrutiny to the expectations of the banking sector. Banks understand that some existing exchanges may not obtain licenses and go into the gray market, masking the sale of cryptocurrency as other services.
According to Sergei Yudakov, credit institutions are striving to put their client base in order in advance and reduce risks before the new requirements come into full effect.
Crypto operations remain a high-risk zone
Managing partner of Parallax Consulting Agency, member of the State Duma's Expert Council on Legislative Regulation of Cryptocurrencies Mikhail Uspensky expects the number of such requests to increase closer to September 1.
Partner at ANP Zenit law firm Ramis Abyanov reminds us: the risk-based approach under Federal Law No. 115-FZ continues to apply, and banks classify cryptocurrency operations as high-risk for clients. This also applies to settlements involving Tether, as such an instrument is usually pegged to the US dollar and is often used in foreign trade payments.
For a bank, the entire chain is important: who acts as the counterparty, how the banking transaction is formalized, what the company is paying for, and how it reflects the received asset in its accounting. Even if the operation does not resemble a retail purchase with a credit card, questions may arise due to the very nature of cryptocurrency settlements.
How companies should respond to requests
Lawyers advise companies not to ignore such letters. Ramis Abyanov warns that silence or a formal, uninformative response can quickly lead to restrictions on service.
"Ignoring or providing a formal, uninformative response is the fastest path to restricted service," warns Ramis Abyanov.
Sovcombank's Compliance Director Marina Bourdonova clarified that until the law comes into force, having a counterparty in the registry is not a mandatory requirement. A bank cannot refuse to process a transaction on this ground alone. Decisions are made based on all the information available to the credit institution.
What $USDT is and why people buy it
$USDT, or Tether, is a crypto asset typically pegged to the US dollar. It is bought to reduce the impact of sharp market fluctuations, quickly transfer funds between platforms, and use in cryptocurrency trading. It is also attractive for foreign trade settlements, but precisely because of this, banks are paying closer attention to the origin of funds, the counterparty, and the economic rationale of the operation.
How to buy $USDT
The main methods of buying $USDT are centralized exchanges, crypto exchanges, P2P transactions, bots, wallets, and services like MetaMask. Exchanges are usually convenient for trading and storing assets on one platform but require consideration of the platform's own rules. Exchangers are often used for one-off purchases, P2P for direct deals with another user, and bots and wallets are suitable for those who value quick access to purchasing within a familiar service.
In Russia, $USDT for rubles is usually purchased through crypto exchanges, P2P platforms, bots, and wallets, if the chosen service supports such an operation. Abroad, the logic is similar: purchases most often occur through exchanges, P2P, wallets, or exchange services, and the available payment methods depend on the country, platform rules, and customer verification requirements.
A $USDT purchase can be paid for by card, bank transfer, and in some services—via Apple Pay or Google Pay. Each option has its limitations: a bank may request an explanation for the transaction, a platform may require user verification, and specific payment methods may be unavailable in a particular country or service.
Legality, fees, and safety of buying $USDT
For Russian companies, the main risk currently is not related to the very fact of buying $USDT, but to banking control under Federal Law No. 115-FZ, the status of the counterparty, and documentary justification of the operation. Until the new rules come into force, having a counterparty in the registry of digital currency exchange operators is not a mandatory condition, but banks still evaluate the entire transaction chain and may request explanations.
When buying $USDT, it is important to choose the transfer network in advance. Among popular options are ERC-20, TRC-20, and BEP-20. ERC-20 is often chosen for its broad support, TRC-20 and BEP-20—when lower fees and fast transfers are important. Before sending, it is necessary to check that the network matches for both the sender and receiver: an error in the network can lead to loss of funds.
To reduce the risk of fraud, it is advisable to use trusted platforms, carefully double-check the wallet address, network, and amount, not transfer money to unfamiliar intermediaries without clear terms of the deal, and keep transaction confirmations. After purchasing $USDT, it can be stored on an exchange, in a hot wallet, or on a cold wallet. For large amounts, it is safer to split storage and not keep all funds on one platform.
