Can you buy cryptocurrency in Russia?

Despite the restrictions imposed by Russia on the usage of certain cryptocurrencies, the country has taken a step forward in the digital currency realm. The introduction of the Digital Ruble, a government-backed digital currency, signifies a shift towards embracing digital assets.

The Digital Ruble was officially launched in August 2023, initially available to a limited audience. This gradual approach allows the authorities to monitor and assess the impact of the digital currency on the economy and financial system.

The ultimate goal is to expand the accessibility of the Digital Ruble to a wider population, fostering the adoption of digital currencies in Russia.

Despite the existence of restrictions, individuals in Russia still have the option to purchase cryptocurrencies from exchanges that are authorized to operate within the country.

Exchanges such as OKX and Coinmama have gained approval to provide cryptocurrency trading services to Russian citizens, enabling them to buy and sell digital assets.