Russians were told about the proper use of cryptocurrencies and protection from fraudsters

Cryptocurrencies continue to gain popularity in Russia, but at the same time, the activity of scammers who use digital assets as a tool of deception is also growing. Is it possible to use cryptocurrency and how to distinguish legal services from fraud schemes, the director of communications of the cryptocurrency exchange told Izvestia on August 9. exmo.me Mikhail Smirnov

According to the Bank of Russia, the share of financial pyramids offering to transfer money to cryptocurrency reached a record of 80.6% in the first half of 2025. For comparison, the figure was 59% a year earlier.

"In January–June of this year, the regulator identified 4,183 illegal financial market participants, of which 2,328 were pyramid schemes. More than a thousand projects directly offered to make money on cryptocurrencies. The focus is on promises of fast and guaranteed income, assistance in "trading," access to unique strategies and trading signals," Smirnov explained.

To avoid falling into fraudulent schemes, it is necessary to choose companies registered in countries with regulated turnover of digital assets. Russia has Law No. 259-FZ, which regulates the digital financial assets market (CFA), and all legal crypto platforms are required to operate within the framework of this legislation. Regular lists of companies with signs of illegal activity are also available on the Central Bank's website, the expert said.

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What is the reason for this and why crimes related to bribes have become more common?

"The main basic rule is that legal platforms do not guarantee profits from operations with cryptocurrencies. Such promises are a sure sign of fraud. Also, if the user does not control the funds directly, and operations take place through a "curator", "assistant" or third—party platforms, this is a significant reason for doubt," Smirnov stressed.

Cryptocurrencies are not prohibited in Russia, but their use is limited. Individuals can buy and sell cryptocurrencies through foreign or Russian exchanges, store digital assets in personal wallets, and participate in legal transactions. However, the use of cryptocurrencies as a means of payment within the country is prohibited, and it is necessary to declare income from the sale of digital assets by paying 13% personal income tax.

"For legal entities, the turnover of cryptocurrencies in most cases remains outside the legal field, with the exception of transactions with digital financial assets through licensed platforms. Other forms of attracting investments using tokens and cryptocurrencies may be considered illegal," Smirnov added.

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More than half of the projects on the market are scams, and even drug dealers issue their coins.

As the expert emphasized, the Central Bank of Russia is strengthening supervision over the activities of crypto platforms, interacting with banks and cryptocurrency services to track suspicious transactions. Additionally, preventive measures include working with Roskomnadzor on a mechanism for voluntarily blocking websites involved in consumer deception.

"The use of cryptocurrencies is possible only within the framework of current legislation. Any schemes that offer guaranteed income, especially when combined with aggressive marketing and promises of "training," require extreme caution," Smirnov concluded.

The owner and CEO of GIS Mining, Vasily Girya, told Izvestia on July 14 about the reasons for the sharp rise in bitcoin prices. According to him, geopolitical instability and discussions around the US debt policy are forcing part of the capital to flow from government bonds to digital assets, including military-technical cooperation. Bitcoin is increasingly perceived as "digital gold," and the Russian mining segment is showing steady development.

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