Crypto Exchange Status Checker
Select an exchange and click "Check Status" to see its current regulatory status in Russia.
Current Status Overview
BestChange
Unblocked (2025)Removed ruble-based forex listings and restricted foreign payment methods. Now accessible.
Garantex
Shutdown (2025)Sanctioned by U.S. for sanctions evasion. Ceased operations after raid.
Grinex
SanctionedOFAC designated for sanctions evasion. Blocked by Roskomnadzor.
Exved
MonitoredLinked to Garantex. Closely watched by regulators due to sanction ties.
Binance
RestrictedNot officially banned, but banking limits prevent Russian access.
Coinbase
RestrictedU.S. sanctions and banking limitations restrict usage in Russia.
When people ask about crypto exchanges banned in Russia are the platforms that the Russian government has blocked or restricted due to regulatory or sanctions reasons, the answer isn’t a simple yes‑or‑no list. The landscape shifts with new laws, sanctions, and court orders.
Quick Takeaways
- Russia does not ban all foreign exchanges, but it blocks any platform that fails to meet strict KYC, AML, or sanctions‑compliance rules.
- BestChange was temporarily blocked in 2023 and re‑opened in 2025 after removing ruble‑based listings.
- Garantex was shut down in 2025 following US‑led sanctions and a multi‑country seizure operation.
- Grinex, a spin‑off of Garantex, remains on the OFAC sanctions list.
- Major Western exchanges (Binance, Coinbase, Kraken) operate under heavy practical restrictions rather than an explicit ban.
Regulatory Background in Russia
The Russian approach to crypto has evolved from vague uncertainty to a structured framework. A July2020 law legalized cryptocurrency transactions but explicitly barred their use for domestic payments, effective January2021. In summer2024, amendments allowed crypto payments for international trade, creating a loophole for companies dealing with foreign partners.
Key institutions driving enforcement are the Bank of Russia the central bank that sets compliance standards for financial institutions and crypto platforms and Roskomnadzor the federal service responsible for monitoring and blocking non‑compliant internet resources. Their combined toolkit includes:
- Mandatory KYC and AML reporting for all crypto‑related activities.
- Prohibited use of Russian banking infrastructure for crypto transactions.
- Lists of restricted websites that can be blocked at the ISP level.
- Heavy penalties for platforms facilitating sanctions evasion.
Since October2025 Deputy Finance Minister Ivan Chebeskov announced an experimental national crypto infrastructure, the trend is moving toward a state‑controlled ecosystem rather than a blanket prohibition.
Exchanges That Have Been Explicitly Banned or Blocked
Below are the platforms that have faced formal bans, court orders, or prolonged blocks within Russian jurisdiction.
BestChange
BestChange a cryptocurrency aggregation platform that was temporarily blocked in 2023 and re‑opened in 2025 after regulatory adjustments was forced to remove ruble‑based foreign exchange information and stop listing certain foreign payment systems. After a review by Roskomnadzor, the site was taken off the restricted list in early 2025.
Garantex
Garantex a Russian‑based exchange sanctioned by the United States in 2022 for facilitating sanctions evasion officially ceased operations in spring2025 following a coordinated raid by the U.S. Secret Service, German, and Finnish authorities. The operation seized the domain and froze more than $26million in crypto assets. Despite the shutdown, investigators have traced a decentralized money‑laundering network that continues under various entities in the UAE, Brazil, and other jurisdictions.
Grinex
Grinex a spin‑off exchange created by former Garantex staff that inherited its user base and was placed on the OFAC sanctions list is targeted by the U.S. Treasury for the same sanctions‑evasion activities that led to Garantex’s downfall. It remains inaccessible to Russian users who are subject to the same AML/KYC restrictions.
Exved (Payment Service)
Exved a payment service linked to the former Garantex infrastructure, marketing itself as a crypto exchange for importers and exporters operates out of Moscow’s International Business Center. While not officially banned, it is closely watched by regulators because of its ties to sanctioned entities.
International Exchanges Facing Practical Restrictions
Western platforms such as Binance the world’s largest crypto exchange, which faces payment‑processing limits in Russia, Coinbase a leading U.S. exchange that cannot use Russian banks for fiat conversions, and Kraken a U.S. exchange restricted by sanctions and banking obstacles are not on an official banned list, but they are effectively blocked for Russian residents because:
- Russian banks refuse to process crypto‑related payments.
- Sanctions make it risky for these firms to provide services to Russian IP addresses.
- Compliance teams often disable Russian accounts pre‑emptively.
Users typically resort to P2P services or VPNs to access these platforms, which raises additional AML concerns.
Comparison Table of Banned and Restricted Exchanges
| Exchange | Current Status | Reason for Restriction | Availability for Russian Users |
|---|---|---|---|
| BestChange | Unblocked (2025) | Previously listed ruble‑based forex info | Accessible via web |
| Garantex | Shut down (2025) | U.S. sanctions & law‑enforcement raid | Not available |
| Grinex | Sanctioned | OFAC designation for sanctions evasion | Blocked by Roskomnadzor |
| Exved | Monitored | Links to Garantex network | Limited, high‑risk |
| Binance | Restricted | Banking & sanctions hurdles | Access via VPN/P2P only |
| Coinbase | Restricted | U.S. sanctions, banking limits | Access via VPN/P2P only |
| Kraken | Restricted | Sanctions, payment blockages | Access via VPN/P2P only |
How Russian Regulators Enforce the Bans
Roskomnadzor maintains an up‑to‑date list of blocked URLs. When a site appears on that list, ISPs are required to redirect traffic to a warning page. The Bank of Russia issues methodological bulletins that force banks to refuse any transaction linked to non‑compliant crypto services. Together, they can shut down an exchange’s operations within days of a compliance breach.
Enforcement tools include:
- IP blocking and DNS filtering by major telecoms.
- Legal orders demanding the removal of non‑Russian payment‑system links.
- Heavy fines for financial institutions that fail to report suspicious crypto activity.
- Criminal investigations against exchange executives who facilitate sanctions evasion.
Staying Safe: What Users Can Do
If you live in Russia and want to trade crypto without running into legal trouble, follow these practical steps:
- Use exchanges that are explicitly approved for “especially qualified” investors, such as the state‑run platform under development (expected rollout in 2026).
- Verify that the platform complies with the Bank of Russia’s KYC/AML guidelines - look for Russian‑registered legal entities and clear licensing information.
- Avoid services that list ruble‑based fiat pairs unless they are registered with the Central Bank.
- Consider local P2P marketplaces that implement escrow and have a solid audit trail, but be aware that these are under increased Roskomnadzor scrutiny.
- If you must use a foreign exchange, use a reputable VPN and withdraw funds to a personal crypto wallet, not to a Russian bank account.
Future Outlook for Crypto Exchanges in Russia
Deputy Finance Minister Chebeskov’s experimental crypto framework signals that the government wants to keep crypto activity inside a controllable sandbox. This could mean:
- More state‑backed exchange services for qualified investors.
- Stricter licensing for any foreign platform wanting a Russian legal presence.
- Potential for a sovereign digital ruble that will further limit the usefulness of independent exchanges.
Meanwhile, sanctions tied to the Ukraine conflict will keep many Western exchanges on the defensive, and any new crypto‑related venture will need to align tightly with Russian financial law.
Frequently Asked Questions
Is Binance completely banned in Russia?
No. Binance is not on the official banned list, but Russian banks do not process its fiat deposits, and the platform is often blocked by Roskomnadzor for IP‑related reasons. Users typically need a VPN or P2P work‑around.
Can I legally use a VPN to access a restricted exchange?
Using a VPN to bypass Roskomnadzor’s blocks is not illegal per se, but if the exchange itself is sanctioned (e.g., Garantex or Grinex), any transaction could expose you to AML investigations.
What happened to BestChange after its 2023 ban?
BestChange removed all ruble‑based foreign‑currency listings and restricted certain international payment methods. After a compliance audit, Roskomnadzor lifted the block in early 2025, and the site is now publicly accessible.
Are Russian‑run exchanges safer than foreign ones?
They are safer only in the sense that they comply with local KYC/AML rules, which reduces the risk of sudden shutdowns. However, they may also share user data with state authorities.
What is the status of the upcoming state‑run crypto platform?
The experimental platform announced by Deputy Finance Minister Chebeskov is slated for a pilot launch in 2026. It will cater to ‘especially qualified’ investors and will integrate directly with the Bank of Russia’s monitoring systems.
It is abhorrent that governments would weaponize financial regulation to stifle the very innovation that could uplift the disenfranchised, yet Russia's crackdown illustrates this moral bankruptcy in stark detail.
By banning platforms like Garantex and Grinex, officials demonstrate a willingness to sacrifice economic freedom on the altar of geopolitical grandstanding.
The citizens, already burdened by inflation, are denied a legitimate avenue to preserve wealth.
This oppressive stance betrays the fundamental principle that liberty in commerce should not be a luxury reserved for the powerful.
We must condemn such draconian measures with unwavering resolve.
The Kremlin's selective enforcement strategy is nothing short of a calculated circumvention of international sanction regimes, effectively creating a dual‑track system that privileges sanctioned entities while penalizing legitimate traders. This pattern reveals a deeper conspiracy wherein state actors collude with domestic oligarchs to consolidate control over crypto assets. The data points to coordinated DNS filtering and banking pressure that leaves no viable alternative for Russian users. Observe the timing: each restriction coincides with heightened geopolitical tension, suggesting premeditated manipulation. 🤨
For anyone trying to navigate the Russian crypto landscape, the key is to verify that an exchange complies with the Bank of Russia's KYC and AML directives. Platforms that display a Russian‑registered legal entity and a clear licensing notice are generally safer to use. Additionally, avoid services that still list ruble‑based fiat pairs unless they have explicit approval, as these are the first targets of Roskomnadzor. Keeping an eye on the official blocked‑URL list can also prevent accidental exposure to sanctions.
Wow, that was a solid rundown! Gotcha, I’ll double‑check the licensing before I dive in.
The ethical dilemma of using foreign exchanges under sanction pressure forces us to reflect on the balance between personal financial autonomy and collective responsibility. While the allure of unrestricted markets is strong, the potential legal repercussions cannot be ignored. Ultimately, choosing a compliant platform aligns personal profit with societal stability.
Oh great, another “crypto‑free” miracle.
Such sarcasm overlooks the very real victims of illegal money‑laundering schemes that thrive on unsupervised platforms. When Garantex fell, countless users lost access to their assets, highlighting the necessity of oversight. Relying on cynicism alone fails to protect the average investor from state‑sanctioned exploitation. We ought to demand transparent compliance instead of dismissing it.
It is evident that the Russian authorities are orchestrating a systematic suppression of decentralized finance, a fact that many overlook due to their naiveté about geopolitical machinations. The selective bans on Garantex and Grinex are not random; they serve a larger agenda of consolidating financial power within state‑approved channels. While some may argue that the moves protect national security, the reality is a blatant attempt to control capital flow and stifle dissenting economic actors.
The future of crypto exchanges in Russia is poised at a crossroads where regulatory ambition collides with market resilience, and this tension will shape the next decade of digital finance in the region. On one hand, Deputy Finance Minister Chebeskov’s experimental framework signals a willingness to integrate cryptocurrency into a state‑controlled sandbox, offering a regulated venue for “especially qualified” investors while imposing stringent KYC requirements. On the other hand, the persistent sanctions regime imposed by the United States and its allies continues to pressure Western platforms, forcing them to restrict services or withdraw entirely. This dichotomy creates a paradox: users are encouraged to adopt crypto for international trade, yet they are simultaneously blocked from the most liquid and reputable exchanges. Consequently, many turn to peer‑to‑peer networks, which, while flexible, expose participants to heightened AML scrutiny and potential legal repercussions. Moreover, the development of a sovereign digital ruble could further marginalize independent exchanges by providing a state‑issued alternative that integrates seamlessly with existing banking infrastructure. Investors must therefore navigate a landscape where compliance becomes a competitive advantage, and non‑compliance carries not only financial loss but also criminal liability. In practice, this means conducting thorough due diligence on any platform’s licensing status, monitoring the evolving list of blocked URLs, and maintaining a diversified wallet strategy that includes self‑custody. Community education will also play a pivotal role, as informed users are less likely to fall prey to scams that proliferate in regulatory gray zones. Ultimately, the trajectory of Russian crypto exchanges will be determined by the interplay of domestic policy, international sanctions, and the adaptive strategies of market participants seeking to preserve access to decentralized finance.
Anyone who romanticizes the notion of unrestricted crypto access in Russia is ignoring the harsh reality of state surveillance and punitive sanctions, and that naiveté is dangerous. The narrative that “we’ll just use VPNs” is a shallow Band-Aid that fails to address systemic repression. It’s high time we confront the fact that crypto freedom is a privilege, not a right, in this jurisdiction.