Russia is preparing fines for payments with cryptocurrency within the country

On May 20, 2025, at the St. Petersburg International Legal Forum, the director of the legal department of the Bank of Russia, Andrei Medvedev, spoke about a new bill that introduces strict measures for the use of cryptocurrencies for payments within the country. This is reported by INTERFAX.RU. The document, currently under consideration in the State Duma, provides for fines and confiscation of cryptocurrency used as a means of payment.

Details of the bill: Article 15.49

The bill proposes to supplement the Code of Administrative Offenses (CAO) with a new article 15.49, which includes four offenses. The key provision concerns responsibility for the use of digital currency as a means of payment within Russia. The fines are as follows:

• For individuals: from 100,000 to 200,000 rubles;
• For legal entities: from 700,000 to 1,000,000 rubles.

The most serious measure would be the confiscation of the cryptocurrency used for such payments. “This will be the most painful phenomenon,” Medvedev noted.

At the same time, for foreign economic activity (FEA), the use of cryptocurrencies is not only allowed, but also encouraged. As part of the experimental legal regime (EPR), launched by the Central Bank at the end of 2024, foreign trade participants can already make payments in cryptocurrency. In March 2025, the Central Bank proposed that the government allow transactions with cryptocurrencies within the EPR for “particularly qualified” investors, as well as enable qualified investors outside the EPR to invest in instruments whose profitability is tied to the value of cryptocurrencies, but without their direct delivery.

Stablecoins and USDT are questionable

The question of the legal status of stablecoins remains open. According to Medvedev, stablecoins are a broad class of assets with different contents, and their regulation requires further discussions with the Ministry of Finance and the professional community. Particular attention is paid to USDT, a token pegged to the US dollar in a 1:1 ratio. “USDT is a thing that has not been fully studied and is not entirely understood,” the Central Bank representative emphasized. At the same time, the law on digital financial assets (DFAs) already allows the use of foreign digital financial assets, such as stablecoins, as a means of payment for foreign trade activities, if they are integrated into the Russian information system.

Opinion and context

In my opinion, the Central Bank’s initiative reflects the regulator’s desire to control the internal circulation of cryptocurrencies, minimizing risks for the financial system, but at the same time supporting their use in international payments. Severe measures such as confiscation may scare away users, but at the same time push businesses towards legal schemes through EPR. The issue with USDT really requires elaboration, since this stablecoin is widely used in Russia, especially under sanctions, and its ban could create additional difficulties for market participants.

News highlights:

• The bill in the State Duma introduces fines for cryptocurrency payments within Russia: 100–200 thousand rubles for individuals, 700 thousand–1 million rubles for legal entities.
• Cryptocurrency used for payments will be confiscated.
• For foreign economic activity, the use of cryptocurrencies is permitted, including through the EPR launched by the Central Bank in 2024.
• The legal status of stablecoins, especially USDT, remains questionable and is being discussed with the Ministry of Finance.

Ddisclaimer: The information in this article is for informational purposes only and does not constitute legal or investment advice. CryptoInside is not responsible for any losses associated with the use of this information.