Russian Banks Crack Down on Crypto Arbitrage Schemes via CIS

Russian banks have tightened control over cryptocurrency arbitrage schemes that use platforms in CIS countries to purchase USDT and subsequently sell it for cash rubles. Financial institutions are paying close attention to the origin of funds received from individuals.

The Central Bank of Russia emphasizes that the transparency of cryptocurrency purchases does not guarantee the legality of the buyer's source of funds. Even if a transaction on an exchange is legal, this does not dispel suspicions regarding the cash proceeds obtained from selling them.

Banks are particularly concerned about the chain of operations: depositing cash into an account → transferring a comparable amount to a crypto platform in Belarus. Under Federal Law No. 115-FZ, financial institutions have the right to request documents proving the origin of funds or refuse to process such transactions.

Key Regulatory Aspects

• Direct P2P transactions between individuals in Russia are permitted until July 1, 2027.
• Cryptocurrency arbitrage itself is not prohibited by legislation.
• Banks have the right to scrutinize suspicious transactions in accordance with Federal Law No. 115-FZ.