When crypto exchanges banned in Russia, platforms that refused to follow local financial laws were shut down or blocked by authorities. Also known as crypto platform restrictions in Russia, this crackdown wasn’t about banning cryptocurrency itself—it was about forcing exchanges to obey KYC and AML rules, requirements that force platforms to verify users and track transactions to prevent money laundering. If you didn’t collect IDs, report activity, or freeze suspicious accounts, you were out.
Russia’s move wasn’t random. It came after years of warnings. By 2023, the Central Bank of Russia started labeling foreign crypto exchanges as unlicensed financial operators. Exchanges like Poloniex, a once-major global platform that stopped serving U.S. users and later faced pressure in Russia, were blocked because they didn’t register locally. Even exchanges with Russian-speaking users but no legal presence—like TradeOgre, a privacy-focused platform that operated without KYC and was later seized by Canadian authorities—were flagged as high-risk. The message was clear: no registration, no access.
What happened to users? Many lost access to their funds overnight. Some tried using VPNs or peer-to-peer platforms, but even those got riskier as banks started cutting off accounts tied to crypto activity. The real winners? Local exchanges that followed the rules, like CEX.IO’s Russian branch and Binance’s compliant arm before it also pulled out. But even those had to limit services—no fiat deposits, no withdrawals in rubles, no new accounts without heavy paperwork.
What’s left today? A quiet, underground market. People still trade Bitcoin and Ethereum, but mostly through OTC desks, Telegram groups, or non-KYC platforms that operate in legal gray zones. The Russian government doesn’t want crypto to disappear—it wants to control it. And that’s why the crypto exchanges banned in Russia weren’t just shut down—they became case studies in what happens when a country demands full control over digital money.
Below, you’ll find real examples of exchanges that ran into trouble, what they did wrong, and how users got caught in the crossfire. No theory. No guesswork. Just what actually happened.
Russia doesn't ban all crypto exchanges, but it blocks those that don't comply with its rules. Garantex and Grinex are sanctioned, Binance and Coinbase are unusable, and only state-approved platforms will survive long-term.