The OSW Centre for Eastern Studies, a Polish think tank focused on post-Soviet geopolitics, published an analysis on July 14 arguing that Russia’s crypto regulation will likely fail at its core objective. Annual crypto turnover in the country exceeds $200 billion, with the vast majority flowing through foreign platforms beyond Moscow’s reach. The draft law « On Digital Currency and Digital Rights, » expected to be enacted in autumn 2026, aims to license trading platforms while banning domestic crypto payments, but the exponential growth of decentralized finance and stablecoins like A7A5 ($120 billion in trading volume) makes enforcement virtually impossible. Russia ranks second globally in Bitcoin mining and DeFi usage surged eightfold, illustrating the regulator’s inability to control actors who have no intention of complying with its requirements.
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