Crypto Exchange Status Checker
Check Exchange Status in Russia
Enter an exchange name to see if it's currently banned or allowed in Russia based on the latest regulatory status.
When you hear that Russia has banned crypto exchanges, it sounds simple - like a wall going up around digital currencies. But the truth is messier. Russia hasn’t banned all crypto. It hasn’t even banned most exchanges. Instead, it’s playing a long game: letting some platforms operate, crushing others, and building its own system underneath it all. If you’re trying to figure out which exchanges you can’t use in Russia, or why some disappeared overnight, you need to understand the real rules - not the headlines.
Garantex: The Exchange That Got Crushed
Garantex was once Russia’s biggest crypto exchange. It handled billions in trades, mostly in rubles and stablecoins, and was a go-to for people avoiding Western banking systems. But in 2022, the U.S. Treasury slapped it with sanctions for helping evade international sanctions. That didn’t kill it - not right away. Garantex kept running, quietly shifting operations, hiding behind shell companies, and moving money through crypto-to-fiat gateways in places like the UAE and Thailand. Then, on March 6, 2025, everything changed. The U.S. Secret Service, working with German and Finnish police, raided Garantex’s digital infrastructure. They seized its domain, froze over $26 million in crypto, and shut down its servers. The exchange officially closed in spring 2025. But here’s the twist: Garantex didn’t die. It split. Its core team, led by Sergey Mendeleev, created Exved - a new payment service based in Moscow’s International Business Center. Exved doesn’t call itself an exchange. It markets itself as “the first exchange for importers and exporters,” helping Russian businesses pay for foreign goods using crypto. It’s not listed on any public exchange directory. It doesn’t need to. It works through private networks, and Russian authorities haven’t touched it - because it’s not violating Russian law. It’s following it.Grinex: The Ghost of Garantex
While Garantex was being dismantled, former employees launched Grinex. It looked like a fresh start - same interface, same user base, same trading pairs. But the U.S. Treasury saw right through it. In early 2025, OFAC added Grinex to its sanctions list, calling it a direct successor to Garantex. The Department of Justice unsealed indictments against two key figures: Aleksandr Mira Serda and Aleksej Besciokov. Besciokov was arrested in India. Mira Serda is still on the run. The State Department is offering up to $5 million for information leading to his capture. Grinex’s servers are gone. Its website is down. But users report that some of its trading channels still work through Telegram bots and private P2P groups. It’s not an exchange anymore - it’s a ghost network. And in Russia, ghost networks thrive when they’re quiet.What About Binance, Coinbase, and Kraken?
You won’t find Binance, Coinbase, or Kraken on Russia’s official list of banned sites. That’s because Russia didn’t ban them. They banned themselves - or rather, they were forced out. These platforms are based in the U.S., Europe, or Singapore. They follow Western sanctions. They can’t legally serve Russian users without violating U.S. or EU laws. So they cut off Russian accounts. They blocked ruble deposits. They stopped supporting Russian ID verification. Banks in Russia can’t process payments to these platforms anyway - the Central Bank of Russia forbids financial institutions from linking to foreign crypto exchanges. So while Binance isn’t technically banned, you can’t use it in Russia. Same with Coinbase. Same with Kraken. The infrastructure is gone. The door is locked. Not by Russian law - by international compliance.
BestChange: The One That Got Back In
BestChange is different. It’s not an exchange. It’s a crypto aggregation platform - like a price comparison site for buying and selling crypto. In 2024, Roskomnadzor blocked it for listing foreign payment systems and currencies like the Kazakhstani tenge. That was a red flag for Russian regulators: foreign money flowing in, potentially bypassing controls. But BestChange didn’t fight. It changed. It removed all foreign currency listings. It stopped showing ruble-to-foreign-crypto rates. It rewrote its compliance protocols with legal advisors. By early 2025, it submitted its revised system to the Bank of Russia. After months of review, Roskomnadzor lifted the ban. BestChange is back online. This is the real lesson: Russia doesn’t want to ban crypto. It wants to control it. If you adapt, you survive.How Russia Actually Regulates Crypto Exchanges
Russia’s crypto rules aren’t about banning. They’re about filtering. The key law came in 2020: crypto is legal as an asset, but not as a payment method. That changed in 2024, when new rules allowed crypto payments for international trade. Suddenly, Russian exporters could use Bitcoin to pay for German machinery - as long as the transaction passed through a government-approved channel. Now, here’s what matters to regulators:- Know Your Customer (KYC): Every user must be verified with Russian ID. Foreign passports? Not accepted.
- Anti-Money Laundering (AML): All transactions must be monitored. Suspicious P2P trades? Reported to the Central Bank.
- No foreign payment systems: PayPal, Wise, Revolut - blocked. Only Russian banks and approved fintechs can handle crypto payments.
- State-controlled infrastructure: The Bank of Russia is building a national crypto gateway - not for public use, but for big businesses and sanctioned entities.
The Future: Russia’s Own Crypto System
On October 4, 2025, Deputy Finance Minister Ivan Chebeskov announced something big: Russia is launching an experimental national crypto infrastructure. It’s not a digital ruble. It’s something else - a government-monitored network for institutional crypto trading, tied to Russia’s foreign trade and sanctioned entities. This isn’t about Bitcoin freedom. It’s about control. The Bank of Russia already lets qualified investors - people with over 50 million rubles ($500,000+) in assets - trade crypto. Soon, large Russian firms will be able to use this new system to settle cross-border deals in digital assets, under state supervision. Think of it like China’s digital yuan: not a ban on crypto, but a state-run alternative. The goal? Keep money flowing, keep sanctions from hurting trade, and make sure the government sees every transaction.What This Means for Users
If you’re in Russia and want to trade crypto, here’s what you need to know:- Don’t use Binance, Coinbase, or Kraken. They’re unreachable - not because Russia blocked them, but because they blocked themselves.
- Avoid Garantex and Grinex. They’re gone. Any site claiming to be them is a scam or a trap.
- BestChange is safe. It’s back, legal, and compliant.
- Exved is real - but not for regular users. It’s for businesses with foreign contracts. You won’t sign up for it.
- P2P trading is still alive. Many Russians use local Telegram groups or peer-to-peer apps to buy crypto with bank transfers. It’s risky, but it works.
Is it illegal to use crypto in Russia?
No, it’s not illegal to own or trade cryptocurrency in Russia. The law allows crypto as an asset. But you can’t use it to pay for goods or services inside Russia - except under special government-approved conditions for international trade. The ban is on using crypto as money, not as an investment.
Why did Russia ban Garantex but not BestChange?
Garantex was used to move money in ways that helped evade international sanctions - like sending rubles to foreign crypto wallets. BestChange, after changes, stopped showing foreign currency rates and removed links to banned payment systems. It complied with Russia’s rules. Garantex didn’t. Russia doesn’t ban platforms for being crypto - it bans them for being tools of sanctions evasion.
Can I still trade crypto using P2P apps in Russia?
Yes, many Russians use Telegram groups, local P2P apps, and even bank transfers to buy crypto from individuals. These trades aren’t regulated, so they’re risky. If you’re caught laundering money or evading taxes, you could face penalties. But as long as you’re not moving large sums or using foreign platforms, most users aren’t targeted.
Are Binance and Coinbase officially banned by Russian law?
No. Russia hasn’t issued a legal order banning Binance or Coinbase. Instead, these platforms voluntarily cut off Russian users to comply with U.S. and EU sanctions. Russian banks are also forbidden from processing payments to them. So while they’re not on Roskomnadzor’s blacklist, they’re effectively unusable in Russia.
What’s the difference between Garantex and Exved?
Garantex was a public crypto exchange that got shut down for sanctions evasion. Exved is a private payment service created by the same team, but it doesn’t call itself an exchange. It operates as a B2B payment processor for Russian importers and exporters. It’s legal because it fits Russia’s new rules for international trade - and it avoids public trading altogether.
Will Russia ever allow foreign crypto exchanges again?
Only if they fully comply with Russian regulations: mandatory KYC using Russian IDs, no foreign payment links, real-time transaction reporting to the Bank of Russia, and no ties to sanctioned entities. So far, no major Western exchange has agreed to those terms. Until they do, they’ll stay blocked - not by law, but by choice.
Louise Watson
November 7, 2025 AT 04:43So it’s not a ban. It’s a filter.
Benjamin Jackson
November 8, 2025 AT 15:03This is actually kind of beautiful in a twisted way. Russia isn’t fighting crypto-it’s trying to domesticate it. Like taming a wild horse and putting a saddle on it so it can pull a cart. Smart, but also kinda scary.
Liam Workman
November 9, 2025 AT 16:14Exved is wild. It’s like the ghost of Garantex got a corporate makeover and moved into a fancy Moscow office. No flashy trading floor, no public ticker-just quiet B2B deals under the radar. And somehow, it’s legal? That’s the real power move here: not hiding, but redefining what you are so the rules don’t apply anymore.
I love how BestChange just bowed, changed its name in the backend, and came back like nothing happened. No war. No protest. Just compliance. That’s how you survive in a system that doesn’t want to ban you-it just wants to own you.
Meanwhile, Binance didn’t get banned. They just looked at the rules and said, ‘Nah, I’m out.’ And honestly? Can’t blame them. But it’s wild that the real winners here aren’t the big exchanges or the rebels-they’re the ones who learned to whisper instead of shout.
Whitney Fleras
November 10, 2025 AT 21:14I’ve been using P2P Telegram groups for years. It’s sketchy, sure-but so is paying cash for a used laptop in a parking lot. At least here, you know who you’re dealing with. Mostly.
Brian Webb
November 11, 2025 AT 06:31Reading this made me think about how governments don’t really ban things-they just make them inconvenient for everyone except the ones they trust. Crypto’s not the enemy. The uncontrolled flow of money is. And now Russia’s building a pipeline that only they control. It’s not about freedom. It’s about visibility.
Exved isn’t a loophole. It’s a feature. They didn’t break the rules. They rewrote them in plain sight.
Colin Byrne
November 11, 2025 AT 17:15Let me be clear: this isn’t regulation. This is surveillance with a side of bureaucracy. The fact that Russia allows crypto as an ‘asset’ but not as a ‘payment method’ is a linguistic trick to avoid admitting they’re scared of decentralized systems. They don’t want to control crypto-they want to control people through crypto. And they’re using legal language to make it sound reasonable.
Exved? A ‘payment service for importers and exporters’? That’s corporate doublespeak. It’s an exchange with a business card. And BestChange? They didn’t ‘adapt’-they surrendered. And now they’re rewarded with state approval. This isn’t innovation. It’s capitulation dressed up as compliance.
Meanwhile, the average Russian user is stuck in a gray zone: no Binance, no Kraken, no Garantex, but also no real legal path to buy Bitcoin without risking a visit from the FSB. So they use Telegram bots. And the state watches. And smiles.
This isn’t a regulatory breakdown. It’s a control system engineered by people who understand that the best way to kill freedom is to make it look like you’re giving people choices.
Leo Lanham
November 13, 2025 AT 03:08So Garantex got wrecked but Exved lives? Classic. Same team, same scam, new name. Russia’s not banning crypto-it’s just making sure the crooks work for the state now. Lmao.
Hope Aubrey
November 13, 2025 AT 12:01Oh my god, this is like watching a spy movie but the villain is the central bank. Exved? More like Ex-Scam. And BestChange? They just deleted the ‘foreign’ part and called it ‘compliance.’ LOL. Russia doesn’t want crypto. They want to be the only one who gets to use it. And they’re okay with everyone else being locked out.
Meanwhile, I’m over here trying to buy ETH and the only option is some guy on Telegram who says he’ll take my rubles for ‘a friend’s uncle’s crypto wallet.’ I’m not risking it. But hey, at least it’s ‘not illegal’… right?
Matthew Gonzalez
November 14, 2025 AT 21:03People keep saying Russia banned crypto. No. They banned chaos. And they’re replacing it with something worse: bureaucracy with blockchain. The state isn’t stopping crypto-it’s making sure every transaction has a paper trail. And guess who’s holding the pen?
Exved isn’t a workaround. It’s the future. The future where crypto isn’t free-it’s just a tool for the chosen few. And the rest of us? We’re stuck with Telegram bots and hope.
Glen Meyer
November 15, 2025 AT 03:42Typical Russian move. Ban the West, build your own version, then call it ‘sovereign.’ Pathetic. You don’t get to call yourself a ‘free market’ when your only exchange is run by the FSB.
Kyung-Ran Koh
November 15, 2025 AT 22:08This is fascinating. Russia’s approach isn’t just about control-it’s about precision. They didn’t outlaw crypto; they outlawed *unmonitored* crypto. The distinction matters. Exved isn’t illegal-it’s institutionalized. BestChange didn’t cheat the system; it recalibrated to fit inside it. That’s not weakness. That’s strategic adaptation.
Meanwhile, Western exchanges refused to comply with KYC that required Russian IDs? That’s not a moral stand-it’s a business decision. And now they’re surprised users are turning to P2P? Of course they are. When you lock the front door, people climb through the window.
And yes-P2P is risky. But so is using any unregulated financial system. The real tragedy? The people who just want to buy Bitcoin to protect their savings from inflation are now forced into shadows because the state and Silicon Valley both decided they’re not worth the hassle.
Missy Simpson
November 16, 2025 AT 00:37so like… if you’re in russia and you wanna buy btc… you just find a random guy on telegram who says he’ll take your rubles? 😅 that’s wild. but also… kinda makes sense? i mean, if the big guys won’t play, you gotta go small. just hope they don’t scam you lol 💸
Ryan McCarthy
November 17, 2025 AT 15:59It’s not about banning crypto. It’s about who gets to move it. Russia’s playing 4D chess here. They don’t need to outlaw Bitcoin-they just need to make sure every transaction goes through their filter. Exved isn’t a loophole. It’s the new standard. And honestly? It might work. If you’re a big exporter, you don’t care about freedom-you care about getting paid.
Meanwhile, regular people? Yeah, they’re stuck. But that’s not new. Governments have always favored the powerful. Crypto just made it visible.
Finn McGinty
November 17, 2025 AT 23:43Let us not forget the irony: the very sanctions meant to isolate Russia have, in effect, forced it to build a more resilient, internally controlled financial architecture. The West sought to cripple its access to global capital-and instead, Russia has created a parallel system that may, in time, outlast the very institutions that sought to contain it.
Garantex was a public-facing entity, vulnerable to international pressure. Exved is not. It operates in the shadows of state-sanctioned commerce, where compliance is not a burden but a shield. The state does not need to ban exchanges-it needs to co-opt them.
BestChange’s rebranding was not surrender. It was evolution. The platform did not defy the system; it became its instrument. This is not the death of crypto in Russia-it is its institutionalization.
And while Western observers scoff at P2P networks as ‘unregulated’ and ‘risky,’ they fail to recognize that such networks are the natural response to exclusion. When formal channels are closed, informal ones bloom. This is not a flaw in the system-it is its inevitable consequence.
The real question is not whether Russia can control crypto. The question is whether the West can survive a world where its financial hegemony is no longer the default.
History does not reward those who refuse to adapt. It rewards those who reshape the game.
Abelard Rocker
November 18, 2025 AT 19:30Oh wow. So the U.S. sanctions Garantex, Russia lets Exved rise from the ashes, and now we’re supposed to be impressed by how ‘smart’ Russia is? This isn’t innovation. It’s just a fancy way of saying ‘we stole your tech and made it ours.’
And don’t even get me started on ‘Exved is for importers and exporters.’ That’s just code for ‘we’re letting the oligarchs bypass sanctions under a thin veil of legality.’ You think the average Russian is using this? Please. This is a backdoor for the elite to keep buying Lambos in Monaco while the rest of us trade BTC for potatoes on Telegram.
And BestChange? They changed their website and now they’re ‘legal’? That’s not compliance-that’s a magic trick. You remove the word ‘foreign’ and suddenly you’re a model citizen? What a joke.
Meanwhile, the U.S. and EU are acting like they’re the good guys because they ‘cut off’ Russian users. Newsflash: you didn’t stop crypto. You just made it dirtier, more dangerous, and more controlled by the state. Congrats, you won the war… and lost the people.
And now you’re all pretending this is a ‘regulatory breakdown’? No. This is a power play. And Russia just won.
Tara R
November 19, 2025 AT 16:18This article is overly verbose and emotionally manipulative. The truth is simple: Russia is a dictatorship that uses crypto as a tool for state control. The rest is theater. Exved? A front. BestChange? A puppet. P2P? A symptom of failure. No need to romanticize it. It’s authoritarianism with a blockchain logo.
Christopher Evans
November 20, 2025 AT 17:20The most important takeaway here is not about exchanges or sanctions-it’s about the nature of sovereignty in the digital age. When a state can dictate not just what transactions occur, but how they are structured, reported, and monitored, it doesn’t need to ban anything. It simply redefines legitimacy.
Garantex was banned because it operated outside the state’s audit trail. Exved is permitted because it was built within it. This is not a failure of Western policy. It is a triumph of centralized control. The future of finance isn’t decentralized. It’s calibrated.