Russia Imposes Restrictions and Heavy Fees on Tether and Binance Coin

Russia plans to introduce new restrictions and costs on digital assets linked to “unfriendly” countries. This move primarily targets dollar-pegged stablecoins such as Tether (USDT) and USD Coin (USDC), as well as Binance Coin (BNB).
Ivan Chebeskov, Deputy Minister of Finance of Russia, announced on the sidelines of the St. Petersburg International Economic Forum that Moscow is considering a set of fees, trading restrictions, and technical protective tools for digital assets associated with entities from unfriendly countries.
According to an estimate by Vladimir Chernov, analyst at Freedom Global, transaction fees for these assets could range from 0.5% to 2%, and may rise to as high as 3% for dollar stablecoins.
The Russian government officially cites investor protection as the reason for these measures. However, the core issue is the dependence of these assets on Western companies. Issuers like Tether, Circle, and Binance have previously blocked wallets linked to sanctioned addresses, leading Moscow to view them as a geopolitical risk to its crypto market.
New Restrictions for Retail Investors
Under the new framework of the “Digital Currency and Digital Rights” law, starting July 1, 2026, non-professional retail investors in Russia will only be allowed to trade Bitcoin, Ethereum, and Tether under specific conditions. Other digital assets will no longer be accessible to this group.
In other words, Moscow is not simply imposing a simple fee — it aims to redirect capital flows away from dollar-based and Western-linked instruments toward ruble-based options or assets aligned with BRICS countries.
These restrictions have not yet become final law. They are currently being reviewed as a bill in the Russian State Duma. The bill passed the first reading with 327 votes in favor and 13 against, and is now approaching the second reading, where key details — including the fee structure for assets linked to unfriendly countries — will be finalized.