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The Deputy Minister of Finance of Russia, Ivan Chebeskov, stated that he does not wish to allow dollar-denominated stablecoins to circulate in the Russian market. Chebeskov pointed out that foreign stablecoin issuers such as USDT and USDC have the ability to freeze users' wallet assets. Once the relevant wallets engage in transactions with platforms licensed by the Central Bank of Russia, the risk of asset freezing for holders will significantly increase.He revealed that there have already been cases where dollar stablecoins held by Russian legal entities were frozen by the issuers, while Bitcoin and Ethereum have not encountered similar situations due to the lack of relevant technical means. The Russian Ministry of Finance believes it is necessary to establish a regulatory framework specifically for stablecoins and to prioritize the development of stablecoins pegged to the ruble and the currencies of friendly countries, while also granting the Central Bank of Russia the authority to adjust the list of relevant assets.

According to Bits.media, a large illegal cryptocurrency mining operation was discovered in the city of Nizhny Tagil in Sverdlovsk Oblast, Russia, and the nearby city of Kushva. The mining operation was hidden in an abandoned industrial park and deployed about 10,000 mining machines, which were dismantled by a joint operation of the Federal Security Service of the Russian Federation, the police, and the power company.Local power companies estimate that the losses caused by the long-term illegal electricity usage of this mining operation amount to nearly 1 billion rubles (approximately 12.7 million USD). Investigators stated that its electricity consumption was sufficient to meet the lighting needs of a small city. Law enforcement has arrested three suspects, who are currently under house arrest and are being investigated for "causing property damage through deception or abuse of trust." Under Russian law, those involved could face up to 5 years in prison.Investigations revealed that the operators of the mining site accessed the power grid through intermediaries and allegedly tampered with electricity meter data to cover up the actual electricity usage. Law enforcement agencies stated that the actual electricity consumption of the mining operation was about twice the approved quota. The local energy department initially launched an investigation due to frequent voltage fluctuations, power outages, and equipment failures in the abandoned factory area, ultimately pinpointing the location of the mining operation. A local television station also produced a documentary titled "Mining" to document this operation.

According to Bits.media, the State Duma of Russia is reviewing a supplementary bill parallel to the "Digital Currency and Digital Rights Law," which aims to enforce mandatory monitoring of cryptocurrency transactions exceeding 1 million rubles (approximately $13,700). The bill requires operators to identify customers, recognize suspicious transactions, implement internal controls and documentation management, transmit data to government agencies, and interface with the Central Bank of Russia.Digital compliance will become a mandatory requirement, including checks for money laundering and risks associated with funding organizations deemed undesirable. Exchange operators may delegate customer identification procedures to banks and must operate as non-credit institutions. The Central Bank has the authority to restrict their activities, demand changes in management, remove them from the register, or even liquidate the company through the courts.The supplementary bill also includes administrative and criminal liabilities, with fines for violations ranging from 30,000 to 50,000 rubles for public officials and 700,000 to 1 million rubles for legal entities. Illegal circulation of cryptocurrency by organizations may result in a maximum sentence of seven years in prison.

According to Bits.media, the Russian state-owned enterprise Gazprom has requested that its 17 subsidiaries must open digital ruble accounts with the Central Bank of Russia.The company stated that this move is to prepare for compliance with legislation that will take effect on September 1, which requires legal entities to be able to accept digital rubles as a method of payment for goods and services. The Russian digital ruble began testing in August 2023, and by the end of 2025, over 130 legal accounts will have participated in the platform testing. Starting September 1, large Russian banks and major enterprises must provide customers with the ability to transact in digital rubles.

According to CoinDesk, the stablecoin project A7A5, based on the Russian ruble, stated that even if the situation between Russia and Ukraine eases in the future and some sanctions are lifted, this stablecoin still has long-term survival space. Its core value lies in cross-border settlement efficiency, profitability, and the construction of regional cryptocurrency payment infrastructure.The market value of this stablecoin was approximately $500 million, initially aimed at helping Russia bypass banking restrictions, but it hopes to further develop into a "direct settlement channel between stablecoins," allowing for direct exchanges with other stablecoins without relying on USDT, USDC, or the dollar system.

According to Russian crypto media Bits.media, the Governor of the Central Bank of Russia, Nabiullina, stated at a press conference that the core purpose of the digital ruble is to automate the monitoring of national contract expenditures, replacing the existing manual review process.She emphasized that the digital ruble does not differ in transparency from the current cashless ruble, and monitoring individual payments is a "misunderstanding." Nabiullina also promised that the central bank would not force citizens to open digital ruble accounts or to use them, and plans to allow the public to experience it voluntarily starting in September, guiding voluntary adoption through promotional advantages. Previously, the Central Bank of Russia updated the relevant rules for businesses and individuals to open digital ruble accounts.

According to Bits.media, the Russian government has approved a package of cryptocurrency regulation bills, including an annual limit of 300,000 rubles (approximately $3,300) for non-qualified investors to purchase cryptocurrencies through a single broker, and they can only buy high liquidity digital assets listed by the central bank, and must pass a test.Qualified investors still need to take the test, but there are no monetary limits. Trading through regulated intermediaries is allowed, but trading without intermediaries is prohibited. Russian citizens can purchase cryptocurrencies abroad, but must use foreign accounts for payment and report such transactions to the tax authorities. Administrative penalties mainly target non-compliant exchange institutions rather than individual investors. The relevant bills will be submitted to the State Duma for review in the coming days.

Blockchain analysis company Elliptic's latest report shows that the ruble stablecoin A7A5 has surpassed $10 billion in on-chain transaction volume since its launch in 2025.This stablecoin is primarily launched by the Russian company A7 LLC, aimed at helping Russian businesses evade Western sanctions. The main function of A7A5 is to serve as a bridge asset between the ruble and USDT, with a total trading volume reaching $17.3 billion, the vast majority of which occurs on exchanges like Grinex in Kyrgyzstan.Despite the significant trading volume, its growth has been notably constrained since August 2025, when countries like the United States imposed sanctions on A7A5. New token issuance has essentially stalled since the end of July, with daily trading volumes dropping from a peak of $1.5 billion to around $500 million. Major DEXs like Uniswap have listed it on their token blacklist, while the liquidity injection of USDT on its own DEX has significantly decreased. Sanctions have led users to face the risk of account freezes when transferring USDT from A7A5 to mainstream exchanges, increasingly isolating it from the broader crypto ecosystem.

According to the Russian Ministry of Internal Affairs, a 46-year-old woman in Kursk lost 28 million rubles in a year-long cryptocurrency investment scam. The woman met a man who claimed to live in an Arab country through instant messaging software. He lured her with promises of high investment returns, prompting her to download a specific application and engage in "cryptocurrency investment."Under the guidance of the scammer, the victim not only invested all her savings but also sold three apartments, a car, and a gold bar, and even took out a loan from the bank and borrowed money from acquaintances. When the victim's funds were exhausted, the scammer deleted all chat records and went offline.Russian police stated that they are currently tracking down the scammer and his accomplices. Previously, a similar case was reported in Kirov Oblast, where a woman lost over 2 million rubles due to believing in the investment promises of a cryptocurrency exchange.

According to CoinDesk, the ruble stablecoin A7A5 grew beyond USDT and USDC last year, with a supply increase of nearly $90 billion.This stablecoin was launched by A7 LLC and is associated with the Russian state-owned Promsvyazbank and Moldovan businessman Ilan Shor, primarily helping Russian users bypass banking restrictions for cross-border payments. Despite Western sanctions, the ruble has appreciated over 40% against the dollar this year, mainly benefiting from capital controls and central bank interventions.

According to market news, Russia has begun to introduce the digital ruble on a large scale in the budget system and banking sector in preparation for its full promotion.Since the beginning of this year, the digital ruble has been actively used for transactions related to the state, and it is now available for transfers to the government budget and payments to federal agencies. Russia has set a phased schedule and deadlines for the promotion of the digital ruble for banks and businesses, stipulating that by September 1, 2026, the largest banks in Russia and their retail clients must allow customers to use the digital ruble for transactions.The Central Bank of Russia has also decided that, starting last week, transactions using citizens' and companies' digital ruble accounts for paying taxes, fees, and government-related payments will be exempt from transaction fees.

According to Cryptopolitan, the Moscow Exchange (MOEX) and the St. Petersburg Exchange (SPB) have expressed support for the new cryptocurrency regulatory framework released by the Central Bank of Russia (CBR) and have confirmed that they will launch cryptocurrency trading services after the relevant regulations come into effect next year.The new framework plans to allow both retail and qualified investors to participate, but retail investors will have an annual investment limit of 300,000 rubles, while qualified investors will have no limit (excluding privacy coins).Reports indicate that the Central Bank of Russia has gradually softened its stance on cryptocurrencies over the past year.

The head of the Central Bank of Russia, Elvira Nabiullina, stated that the rapid development of the Bitcoin mining industry in Russia is boosting the country's economy and may strengthen the ruble's exchange rate. Nabiullina acknowledged that it is difficult to quantify the impact of cryptocurrency mining due to the significant presence of illegal and semi-legal miners in the industry.She said, "Mining is indeed one of the additional factors contributing to the strong ruble exchange rate." Previously, the Central Bank of Russia had opposed cryptocurrencies, and Nabiullina had called for a ban on mining and cryptocurrency exchanges. However, in recent years, Moscow's attitude towards crypto mining has warmed, encouraging miners to establish bases in areas where electricity reserves are idle.

According to Cryptopolitan, the Central Bank of Russia stated that while the investment of the country's citizens in domestic cryptocurrency derivatives is increasing, it does not pose a risk to the financial system.The released "Financial Stability Assessment" report disclosed data for the second and third quarters of 2025: Russian households invested approximately 3.7 billion rubles (about 47.3 million USD) in cryptocurrency-based derivatives, with some investments linked to the returns and value of digital assets in Russian bonds. The scale of investments in cryptocurrency-linked futures contracts by individual participants on the Moscow Exchange is also small; among the 1,900 investors trading cryptocurrency futures, most have a portfolio size of less than 500,000 rubles (approximately 6,400 USD). Meanwhile, the largest contributors to the overall investment scale are a few large participants, whose open positions exceed 100 million rubles (about 1.28 million USD). Additionally, in the second and third quarters of 2025, the trading volume of Russian citizens on foreign cryptocurrency exchanges decreased by 18% compared to the previous two quarters.

ChainCatcher news, according to CoinDesk, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced today sanctions against multiple companies, exchanges, and executives associated with the Russian cryptocurrency exchange Garantex and the ruble-backed stablecoin A7A5.According to OFAC, Garantex is suspected of handling over $100 million in ransomware and dark web transactions. After its network domain was seized and $26 million in funds were frozen, the parties quickly established Grinex to continue operations.The A7A5 stablecoin is issued by the Kyrgyzstan company Old Vector and is supported by the Russian state-owned bank Promsvyazbank. Blockchain analytics firms report that the stablecoin's daily trading volume has reached $1 billion, with a total trading volume exceeding $51 billion, making it an important tool for evading sanctions.This sanction action is coordinated and executed by the U.S. Secret Service and the Federal Bureau of Investigation, aimed at cutting off digital asset channels used for ransomware attacks and evading sanctions.

ChainCatcher news, according to Tass, the Russian state-owned enterprise Rostec plans to launch a ruble-pegged token named RUBx and a payment platform called RT-Pay. The platform will serve as a secure tool for companies and individuals to conduct currency transactions. Rostec noted that the platform fully complies with Russian laws, including the requirements of the central bank, as well as measures to prevent money laundering and terrorist financing.

ChainCatcher news, according to Cryptonews, the Central Bank of Russia has announced that the country's central bank digital currency (CBDC) digital ruble will be officially launched nationwide on September 1, 2026. Russia's largest commercial bank is expected to offer customers a full range of CBDC trading options starting in September next year, while small and regional banks will follow in September 2027.

ChainCatcher news, according to CoinDesk, Russia's largest bank—Sberbank—has launched a new structured bond that is linked to the price of Bitcoin (BTC) and the exchange rate of the US dollar to the Russian ruble.The bond is initially available only through over-the-counter transactions to a select group of qualified investors. The returns for holders will depend on two variables: the future performance of Bitcoin against the US dollar and the appreciation of the US dollar against the ruble.Investors do not need to open a crypto wallet or use foreign crypto exchanges to participate; all transactions are conducted in rubles and processed through a "legal and infrastructure system" within Russia.

ChainCatcher news, according to Cryptonews, the Central Bank of Russia has invited the Republic of Tatarstan to assist in testing the smart contract functionality of the digital ruble. The Tatarstan Ministry of Finance has established a working group that will conduct conditional targeted funding expenditure experiments using the central bank's testing platform, with the tests expected to conclude in the third quarter of 2025.A month prior, the Central Bank of Russia had "indefinitely postponed" the nationwide rollout plan for the digital ruble originally scheduled for August this year, but this testing indicates that the digital ruble project is still progressing. Central Bank Governor Elvira Nabiullina stated that the new launch date will be announced later.At the same time, the Moscow Metro also announced the expansion of its digital ruble pilot project, collaborating with the central bank and VTB Bank to test the functionality of recharging Troika smart cards using the digital ruble. These developments are similar to the pilot projects of China's digital yuan, but Russia has previously stated that one of the main functions of the digital ruble is to assist Russian enterprises in making cross-border payments with other countries that use digital fiat currencies.

ChainCatcher news, according to RIA Novosti, in 2024, the Russian power company "Rosseti" suffered losses exceeding 1.3 billion rubles due to illegal connections to the grid by "black miners" and unmetered electricity consumption. Among them, "Rosseti North Caucasus" suffered the largest loss, exceeding 600 million rubles; "Rosseti Novosibirsk" lost 400 million rubles; and "Rosseti Central and Volga" lost 120 million rubles.The company reported that 130 cases of illegal connections have been investigated, and the cases have been handed over to law enforcement agencies, with over 40 criminal cases initiated involving charges that could lead to actual prison sentences. Illegal mining has also caused overloads in the power grid, leading to low voltage that could damage equipment and appliances. For example, in the village of Chapayevskoye in the North Caucasus, power companies and law enforcement discovered nearly 200 mining machines consuming over 12,000 kilowatt-hours of electricity.In addition, illegal mining sites are not only found in industrial areas but also involve various locations from containers on rented land to underground parking lots in residential complexes. The largest case occurred in Novosibirsk, where more than 3,200 mining machines were seized, resulting in losses from electricity theft amounting to 197 million rubles, and the suspects have been detained.