Russia may impose fees on "unfriendly" cryptocurrency transactions to protect investors

Russian Deputy Finance Minister Ivan Chebeskov stated that Russia may introduce fees, recommendations, and technical protection mechanisms for "unfriendly" cryptocurrency transactions to protect Russian investors. During the preparation for the second reading of the cryptocurrency market regulation bill, one of the core topics is whether to allow specific digital assets (including USDT and BNB) to participate in trading. Ivan Chebeskov pointed out that the operation of such tools may pose high risks to Russian users, and therefore additional protective measures are being considered, including economic incentives such as fees or recommendations to encourage citizens to hold other assets.

Previously, the Russian Ministry of Finance considered excluding USDT from the cryptocurrency market regulatory framework, but industry participants expressed their willingness to bear the risks of using the tool themselves. Additionally, in the regulatory concept proposed by the Central Bank of Russia last December, it was suggested that digital currencies and stablecoins be classified as foreign exchange assets, allowing buying and selling but prohibiting their use for domestic payments for goods and services. Ineligible investors may purchase the most liquid cryptocurrencies after passing specific tests, and the annual limit for purchasing assets through a single intermediary does not exceed 300,000 rubles.