LDPR Calls for Not Banning Cryptocurrencies "Under a Far-Fetched Pretext"
The Liberal Democratic Party of Russia (LDPR) has called for cryptocurrencies not to be banned "under a far-fetched pretext." Party leader Leonid Slutsky stated that cryptocurrencies should be legalized and regulated, framing the issue as one of technological and financial sovereignty. He argued it is impossible to "endlessly prohibit what the whole world is using" and that citizens should be provided with necessary tools for development.
Meanwhile, the Central Bank of Russia (CBR) estimates there are about 1 million qualified investors in the country who could be permitted to trade cryptocurrencies after passing a test. The CBR proposes restricting non-qualified ordinary Russians from purchasing crypto to protect them from risks, though bans on holding or selling are not planned.
The CBR reported an 18% decline in Russian transactions on foreign crypto exchanges in Q2 and Q3 of 2025 compared to the previous two quarters. The estimated monthly balance of Russians' funds on crypto exchanges fell by 20% to 933 billion rubles, and traffic from Russia to crypto platforms dropped by 28%. The regulator deems it crucial to legalize the crypto market but, according to First Deputy Chairman Vladimir Chistyukhin, also advocates for laws with strict restrictions and prohibitions to be adopted quickly.
RBK-crypto12/11 12:23
