Crypto Exchanges Banned in Russia: What Happened and Where to Trade Now

When crypto exchanges banned in Russia, the Russian government moved to cut off access to global platforms like Binance, Kraken, and Coinbase to control financial flows and reduce reliance on foreign systems. This wasn’t just a technical block—it was a full financial crackdown tied to sanctions, currency control, and national security fears. The move didn’t stop people from trading, but it forced them into shadows, using P2P networks, offshore platforms, and even VPNs to keep access alive.

Crypto banking Russia, once a gray area, is now strictly regulated: banks are forbidden from processing crypto-related payments, and any account linked to a crypto exchange risks freezing. Also known as crypto financial restrictions, this has made it nearly impossible to deposit rubles or withdraw funds through traditional channels. Meanwhile, crypto regulation Russia has shifted from outright hostility to controlled tolerance—only state-approved tokenized assets, like digital rubles or government-backed blockchain projects, are now legal. This creates a strange split: you can’t use Binance, but you might be able to trade a state-endorsed digital bond on a government portal.

The real story isn’t about bans—it’s about adaptation. Russians are using crypto trading restrictions as a catalyst to build decentralized alternatives: local P2P marketplaces, Telegram-based traders, and anonymous wallets are thriving. Some trade via Chinese or Turkish exchanges that still accept Russian users. Others use crypto to send money abroad, bypassing SWIFT entirely. The government can block websites, but it can’t block the internet’s underlying protocols. What’s clear is that the ban didn’t kill crypto in Russia—it just made it harder, riskier, and more underground.

Below, you’ll find real reviews and warnings from people who’ve been caught in this mess—exchanges that vanished, scams that exploded, and the few platforms still operating under the radar. No fluff. No promises. Just what’s actually happening on the ground in Russia’s crypto landscape right now.