Russia Slashes Crypto Reporting Threshold to 60,000 Rubles

Russia's financial intelligence service, Rosfinmonitoring, will gain authority to monitor cryptocurrency transactions above 60,000 rubles and demand personal data on both sender and receiver. The threshold was lowered from an earlier proposal of 100,000 rubles, according to the draft legislation.

The scope of the new rules reflects the scale of crypto activity in the country. Deputy Finance Minister Ivan Chebeskov said in February that roughly 20 million Russians use crypto “in one way or another” and that daily transaction volume is close to 50 billion rubles, about $648 million. Cross-border crypto payments linked to Russian trade reached roughly 1 trillion rubles in 2025, largely with China, India and Turkey.

Under the reporting requirements, any depository of digital assets working in Russia and foreign financial institutions serving Russian clients must report transactions above 60,000 rubles to Rosfinmonitoring. The information required includes legal or personal names of both parties, wallet IDs, physical addresses, dates of birth and tax IDs, according to Bits.media. Transfers below that threshold only need the name and wallet ID of the client. Crypto settlement transactions related to foreign trade face a higher reporting threshold of 1 million rubles.

For international token issuers, the eligibility rules may prove just as consequential. To circulate legally in Russia, a cryptocurrency needs an average market capitalization above 5 trillion rubles over two years and average daily trading volume exceeding 1 trillion rubles. Those thresholds currently match only Bitcoin and Ether. Stablecoins such as Tether's USDT and Circle's USDC may not qualify under the proposed legal framework because they lack an issuer obligated under the rules.