Catenaa, Saturday, January 17, 2026-Russia’s Social Fund saw a sharp rise in crypto-related inquiries in 2025, driven by public questions on whether pensions could be paid in digital assets and whether mining income would count toward social benefits.
Officials clarified that all state payments remain in rubles, while taxation of digital assets falls under the Federal Tax Service.
The influx of questions coincides with growing debate over classifying crypto mining as an export activity, a proposal advanced by senior Kremlin official Maxim Oreshkin.
Russian mining operations now contribute more than 16% of the global hashrate, with corporate miners taxed at 25% following legalization in late 2024.
Central Bank Governor Elvira Nabiullina acknowledged mining’s influence on the ruble but noted that quantifying its impact remains difficult due to gray-market operations.
Regulated crypto trading infrastructure is emerging ahead of the July 1, 2026, framework. Moscow Exchange and St. Petersburg Exchange confirmed readiness to launch trading for qualified and non-qualified investors, subject to purchase caps, knowledge tests, and token eligibility requirements.
Russia recorded $376.3 billion in crypto transaction volume between July 2024 and June 2025, surpassing the UK to become Europe’s largest crypto market by volume.
Meanwhile, Sberbank now offers 1.5 billion rubles in crypto-linked investments, and Tether’s Hadron platform secured trademark protection in Russia for blockchain-based financial services and trading. Despite adoption, State Duma officials reiterated that cryptocurrencies will not serve as legal tender, remaining investment instruments with all payments conducted in rubles.
The surge in inquiries highlights growing public interest in crypto, ongoing debates over mining income recognition, and the government’s effort to balance innovation with regulatory oversight.
