pension

#Pension Questions about receiving pensions in cryptocurrency have become one of the most unusual but increasingly common inquiries directed to Russia’s Social Fund, the government body that oversees public pension programs.
During 2025, the fund’s customer service centers processed around 37 million phone calls. Most of these calls focused on standard topics such as pension disbursements, welfare benefits, and maternity support. However, officials noted a noticeable rise in questions related to digital currencies, according to a report published by Rossiyskaya Gazeta, the Russian government’s official newspaper.
Among the most frequently asked crypto-related questions were whether retirees could receive their pension payments in digital assets and whether earnings from cryptocurrency mining would be included when calculating social benefits. These inquiries were common enough to draw attention despite the high overall call volume.
In response, Social Fund representatives clarified that all pensions and social payments are strictly issued in rubles. They also emphasized that cryptocurrencies do not fall under the fund’s authority. Any matters involving crypto income, including taxation, are handled by Russia’s Federal Tax Service rather than pension agencies.
Russia Surpasses UK and Germany in Crypto Use
Recent data highlights Russia’s growing role in the global crypto market. According to an October report by Chainalysis cited by Cointelegraph, Russia has become Europe’s largest cryptocurrency market, overtaking countries such as the United Kingdom and Germany.
Between July 2024 and June 2025, Russia received approximately $376.3 billion in crypto transactions. This figure surpassed the UK’s $273.2 billion during the same timeframe. The report linked this growth to rising institutional participation and expanded use of decentralized finance platforms.
Large crypto transfers exceeding $10 million increased by 86% compared to the previous year, nearly double the growth rate observed across Europe. Overall crypto inflows into Russia climbed 48% year over year. Retail participation also strengthened, with both small and large investors showing higher activity than their European counterparts. DeFi usage in Russia surged dramatically, increasing eightfold in early 2025.
Central Bank Considers Limited Crypto Access for Retail Investors
In a related move, the Bank of Russia recently proposed allowing everyday investors to buy select cryptocurrencies under controlled conditions. Under the proposal, non-qualified investors would be able to invest in certain liquid digital assets after passing a knowledge assessment, with an annual investment limit of 300,000 rubles (about $3,800).
Qualified investors would receive wider access to crypto markets, though privacy-focused coins would remain excluded. They too would be required to demonstrate sufficient knowledge before participating.