On June 10, 2025, a new law came into force in the Russian Federation, which affects the sphere of international transfers related to cryptocurrency. According to the document, all transfers to Russia that exceed the amount of 5,000,000 rubles and originate from sources where the funds were previously in the form of digital assets must be delivered in cash. This applies to both individuals and legal entities.
Reasons for adopting the law
Lawmakers explained the need to introduce new rules by the fact that funds previously held in cryptocurrency do not meet Russian standards of financial transparency and cannot be fully verified as to their origin at the time of conversion into fiat currencies. Russian regulators have expressed fears that such funds could be linked to shady operations, tax evasion or the financing of banned organizations.
A State Duma spokesman said:
“We cannot control the origin of assets that have passed through anonymous blockchain networks. Even if they were subsequently legalized abroad, we have no tools for a full legal assessment of their purity. Cash delivery is a temporary measure to preserve the reliability and transparency of the financial system.”
Practical implications
According to the law, if a citizen or organization receives an international transfer of more than 5 million roubles and the documents indicate that the funds were previously in cryptocurrency (for example, were exchanged through an exchange), such a transfer may only be completed on condition of physical delivery of cash through authorized banking structures or courier services accredited by the Central Bank.
This means:
- Increased complexity of large cross-border transfers, especially for businesses.
- Increased demand for collection and international cash transportation services.
- Possible increase in fees and timeframes due to physical logistics.
- Pressure on international exchanges working with Russian residents.
Exceptions and Perspectives
The law provides for several exceptions:
- Funds received under formal international contracts between states.
- Financial assistance from recognized international organizations (e.g., OON, VOZ).
- Transfers confirmed by a full audit of the origin of funds with the participation of accredited Russian auditors.
It is expected that in the coming months the Bank of Russia will develop more detailed instructions on the procedure for documenting the origin of funds, as well as create a register of companies authorized to transport cash under the new legislation.
Criticism and public reaction
Experts have already criticized the new law for its impracticality and the risk of strengthening the shadow economy. Some analysts believe that it may encourage some businesses to use unofficial channels or refuse to work with Russia altogether.
Nevertheless, the government says the move is temporary and is related to strengthening control over financial flows amid heightened geopolitical tensions and the desire for digital sovereignty.
