According to reports, the Bank of Russia is planning a large-scale audit of the nation’s cryptocurrency holdings and activity in early 2026.
The review is described as a broad check that would gather data from banks, crypto firms, miners and tax authorities, and could run during the first two months of 2026. Officials say the goal is to map out unreported flows and loans tied to crypto, but details remain thin.
The scope, based on these accounts, could include both on-chain movement and off-balance sheet arrangements that touch banks.
The notification appears just after other significant stories about crypto flows attributed to Russian-affiliated entities — such as the Kremlin-backed crypto coin that transferred $6 billion since US sanctions — raising concerns of large flows and the risk of sanctions evasion.
If the audit results in a finding of significant unreported holdings or lending, there could be ramifications regarding additional reporting responsibilities for banks and increased capital charges for crypto risk.
The tax authorities may also leverage this knowledge to pursue unreported tax on gains or interest. Market participants say the likely outcome would be more paperwork, greater checks on correspondent relationships, and stronger demands for proof of source of funds when banks deal with crypto firms.
Featured image from Apa.az, chart from TradingView
