Crypto Exchanges in Russia: What’s Legal, What’s Dead, and Where to Trade
When you search for crypto exchanges Russia, online platforms where Russians buy, sell, and trade digital assets despite sanctions and regulatory pressure. Also known as Russian cryptocurrency trading platforms, these services have been reshaped by war, sanctions, and a government that wants control but can’t stop the flow of Bitcoin. Since 2022, Western exchanges like Binance and Coinbase pulled out of Russia. But that didn’t kill crypto—it forced it underground, into peer-to-peer networks, local platforms, and mining farms powered by cheap Siberian electricity.
What’s left isn’t glamorous. It’s Bitcoin mining Russia, the backbone of Russia’s crypto survival, where hardware runs 24/7 in warehouses and basements, fueled by state-subsidized power. Also known as Russian hash rate hubs, this sector now accounts for nearly 10% of the global Bitcoin network, according to 2025 data from the Cambridge Centre for Alternative Finance. Mining isn’t just about profit—it’s a way to convert rubles into something that can’t be frozen by Western banks. Meanwhile, crypto sanctions Russia, the U.S. and EU restrictions that blocked access to global financial rails, forcing Russians to use USDT, Monero, and OTC desks to move value. Also known as sanctions evasion crypto, this has turned Telegram groups and local P2P apps into the new stock exchanges. You won’t find regulated platforms like Swyftx here. Instead, traders use local services like CEX.IO (still operating under a shell), Bybit (with Russian-language support), and dozens of unregulated bots that accept cash, bank transfers, or even crypto-for-goods swaps.
And then there’s the tax question. Russia doesn’t tax crypto gains outright—but it does require you to declare foreign exchanges and crypto holdings over 600,000 rubles. If you don’t, you risk fines or worse. The government doesn’t want you to avoid taxes—it wants to know where your money went. That’s why many now use local mining rewards as income, or trade through non-KYC platforms that leave no paper trail. The truth? If you’re trading crypto in Russia today, you’re not using an exchange—you’re using a network.
Below, you’ll find real reviews of platforms that once claimed to serve Russian users—some are dead, some are scams, and one or two still work. You’ll see how Venezuela’s crypto survival tactics mirror Russia’s, why exchanges like Cryptopia and BitGlobal vanished, and how traders are adapting to new rules that change every six months. No fluff. Just what’s actually happening on the ground.