russia

Russia sold a top gold miner that it seized from a billionaire last year, though only after multiple attempts and for about half the price it originally sought.
Moscow-based BTS-Most Holding will acquire a 67.2% stake in Yuzhuralzoloto PJSC and its affiliated companies after winning a Dutch auction with a bid of 93 billion rubles ($1.3 billion), the state-run Tass news service reported Friday, citing auction disclosures.
The authorities had failed to attract bidders in previous attempts to sell the asset, which was initially offered at a starting price of 162 billion rubles.
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Russia is preparing to significantly reshape how its citizens trade cryptocurrencies. Proposed legislation would introduce new fees, restrictions, and regulatory hurdles for digital assets issued by companies based in jurisdictions that Moscow considers “unfriendly.”
If approved, the measures could dramatically alter capital flows across the crypto market, redirecting billions of dollars in trading volume away from international exchanges and toward state-approved domestic platforms.
Moscow Wants to Reduce Dependence on Foreign Issuers
Russia’s Ministry of Finance is developing a framework designed to favor cryptocurrencies that are considered safer from a national sovereignty perspective.
Regulators argue that some foreign companies retain the ability to freeze digital assets or block wallet addresses at the request of Western authorities.
According to Moscow, this creates a strategic risk for Russian individuals and businesses.
The new legislation aims to create economic incentives that encourage investors to use assets approved by Russian regulators rather than relying on foreign-issued digital currencies.
Retail Investors May Face a Limited Selection
Under the proposal, everyday investors would have access to a much smaller list of approved cryptocurrencies.
Bitcoin, Ethereum, and USDT are expected to remain available for retail trading. However, several other popular digital assets and stablecoins could face additional restrictions or higher transaction costs.
Russian regulators argue that certain stablecoin issuers have previously cooperated with U.S. and European authorities to freeze assets linked to criminal investigations.
The ability to unilaterally block funds is one of the primary concerns driving the proposed changes.
Fees Could Be Just the Beginning
Although the final version of the legislation has not yet been released, analysts expect additional costs to be imposed on the use of selected foreign-issued cryptocurrencies.
Beyond direct fees, lawmakers are reportedly considering several other measures:
Mandatory investor knowledge testsAnnual trading limits for retail participantsAdditional controls on wallet-to-wallet transfersExtended waiting periods for certain withdrawals and transactions
According to regulators, these measures are intended to strengthen investor protection while reducing capital outflows from the Russian financial system.
Hundreds of Billions of Dollars Are at Stake
The significance of these proposals extends far beyond Russia’s borders.
Russia remains one of the largest cryptocurrency markets in Europe, with crypto-related transaction volumes reaching hundreds of billions of dollars annually.
Legal experts note that a substantial share of trading fees currently flows to foreign exchanges. Moscow would prefer to see a larger portion of those revenues remain within licensed domestic platforms.
At the same time, reports suggest that foreign exchanges operating without Russian licenses could eventually face stricter restrictions—or even lose access to the Russian market entirely.
The Crypto Industry Continues to Fragment
The proposed rules also highlight the growing geopolitical divide within the cryptocurrency sector.
While the United States and the European Union continue developing their own regulatory frameworks, Russia is moving toward a model that increasingly prioritizes domestic infrastructure and reduces reliance on foreign service providers.
If implemented as planned, the legislation could become one of the most significant crypto regulatory developments of 2026.
For global exchanges, stablecoin issuers, and millions of cryptocurrency users, the impact could extend far beyond Russia itself.
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Disclaimer:
The information and opinions presented in this article are for informational and educational purposes only and should not be considered financial or investment advice. Nothing on this page constitutes a recommendation to buy or sell any assets. Cryptocurrency investments are inherently risky and may result in financial loss. Always do your own research before making any investment decisions.

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