No Bitcoin Payments in Russia — But the Digital Ruble Is Open for Business

According to Bitcoin Magazine, Russia has made its digital ruble available for transactions starting September 1 as part of developing a fast and independent payment infrastructure. Prime Minister Mikhail Mishustin noted the rollout, while the country continues to enforce a strict ban on using cryptocurrencies like bitcoin for payments.

President Vladimir Putin signed a law in August regulating digital currencies and digital rights, establishing that only registered entities can operate as exchanges and limiting retail investor crypto usage. Retail investors face caps of 300,000 rubles per year on trading liquid cryptocurrencies, while qualified investors have no restrictions.

While bitcoin payments remain illegal for domestic transactions—having been banned since 2022—Finance Minister Anton Siluanov previously admitted that companies use bitcoin for international payments to counter Western sanctions. Meanwhile, the central bank digital currency has been promoted by officials as a centralized form of digital money controlled by the Bank of Russia, mixing a centralized ledger with distributed-ledger components, despite long-standing criticisms from bitcoiners regarding government surveillance and spending control.