Russia Will Never Recognize Crypto as Official Currency, Lawmaker Says

Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, has reiterated that cryptocurrencies will never be recognized as money or legal tender in Russia, emphasizing that all domestic payments must be conducted exclusively in rubles.

Speaking at a TASS press conference on December 15, 2025, Aksakov stated: “It must be understood that cryptocurrencies will never become money within our country. They can only be regarded as an investment instrument.” He dismissed any possibility of assets like Bitcoin or Ethereum functioning as official currency, aligning with the Central Bank of Russia’s long-standing opposition to crypto payments.

This stance reinforces existing legislation from 2020, which prohibits using digital currencies for goods, services, or domestic settlements while treating them as property for investment purposes. The ruble remains Russia’s sole legal monetary unit, preserving monetary sovereignty amid concerns over financial stability.

However, Russia permits limited crypto use in cross-border trade under an experimental legal regime to navigate Western sanctions. Officials acknowledge businesses have settled billions in international transactions via digital assets, without extending this to internal payments.

The comments come as lawmakers prepare broader crypto regulations for 2026, including potential rules for investments, derivatives, and stablecoins. Recent proposals also seek to recognize cryptocurrencies as marital property in divorce cases, reflecting their growing role in personal finance.

Analysts view Russia’s approach as pragmatic: embracing blockchain for sanctioned trade and mining—powered by abundant hydropower—while strictly controlling domestic circulation. This contrasts with nations adopting crypto as legal tender, highlighting global regulatory divergence.

As sanctions persist and digital ruble pilots expand, Russia’s firm line on decentralized currencies underscores priorities of state oversight and economic control in an evolving digital finance landscape.