Russia Shuts Nine Unlicensed Crypto Exchanges in Moscow

Moscow City has long served as a hub for cash-based, over-the-counter cryptocurrency dealing, a role that grew more important as Western sanctions narrowed Russia’s access to conventional cross-border payment channels. Moscow is now steering digital-asset activity toward licensed intermediaries under legislation due to take effect on Sept. 1, 2026. The raids matter because they signal that enforcement is moving ahead of the new framework and targeting gray-market infrastructure associated with money laundering, capital flight and fraud.

On Aug. 12, 2026, Russia’s Federal Security Service, or FSB, and the Interior Ministry said they had shut nine unregistered cryptocurrency exchanges in the Moscow City business district and detained more than 20 employees. Authorities alleged the outlets converted proceeds from telephone scams into cryptocurrency before sending the assets abroad, and claimed links to Ukraine. Officials did not disclose the value of the suspected proceeds, the amount of assets seized or the names of the nine exchanges.