- Russia could begin blocking access to major offshore crypto exchanges as early as this summer, according to a report citing industry experts.
- A likely enforcement method is DNS-level disruption, the “site won’t load” approach used in other high-profile blocks, rather than a perfectly enforceable ban.
- Moscow Exchange leadership has pointed to $15 billion in fees paid by Russians to global exchanges as a revenue pool local venues want to compete for.
Russia could begin restricting access to foreign cryptocurrency exchanges as early as this summer, according to a new RBC report , as lawmakers advance a domestic framework intended to move more crypto activity into regulated, onshore infrastructure.
Interfax has separately reported that the legislative framework for regulating Russian crypto exchanges is expected to be prepared by July 1, 2026, a milestone that could set the stage for tougher enforcement against offshore venues once domestic options are ready.
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Crypto Exchanges Under the Microscope
Officials have framed the crypto market as both large and undersupervised.
Russia’s Finance Ministry estimates crypto-related transactions at around 50 billion rubles per day, with “millions” of Russians participating.
But the pressure isn’t only regulatory—it’s economic.
The report cites Moscow Exchange supervisory board chair Sergey Shvetsov as saying Russians pay about $15 billion in fees to global crypto exchanges, and that the exchange would compete for that revenue “as soon as it becomes possible.
That combination, large flows outside oversight plus an onshore revenue opportunity, creates a familiar sequence: build a compliant “white zone,” then make the grey zone more painful to use.
How Russia Will Ban Foreign Crypto Exchanges
The most likely approach described is not a clean “ban” but access friction applied at the infrastructure layer.
A senior analyst at BestChange.ru, Nikita Zuborev, is quoted saying the regulator could begin mass blocking of sites tied to crypto exchanges not registered in Russia and large exchanger services as early as this summer.
He compared the likely method to the playbook used against YouTube: removing DNS records within Russia’s internet segment and continuing enforcement against circumvention tools.
This is also consistent with the broader direction of Russia’s internet controls.
Recently, Russia has used DNS manipulation and deep packet inspection (DPI) in restrictions affecting major platforms and services—tools that can degrade or break access while remaining technically bypassable.
Key Risk: Less “Whitening,” More Fragmentation
Zuborev also warned that aggressive blocking could backfire by pushing activity into riskier channels, raising fees and fraud risk, especially if offshore services aren’t given a workable legal path via licensing or “agent” models.
The tradeoff is simple: if onshore venues are liquid and easy to use, volume migrates. If they aren’t, the market splinters into smaller, harder-to-police intermediaries.
The report also points to a Belarus-style approach that broadly restricts access and pushes activity toward approved venues.
Even then, experts argued a full lockout is unrealistic because platforms control onboarding and users can route around blocks.
The report also claimed that after Binance’s Russia exit, at least 1 million Russians remained clients.
What To Watch Next
If enforcement moves from theory to reality, the first signs will likely be operational:
- Early domain/DNS blocks hitting major exchanges and swap services,
- Clear licensing rules ahead of the July 1, 2026, framework milestone,
- Expanded DNS/DPI controls consistent with recent platform restrictions.
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