Russia’s new $600 cash withdrawal limit to curb crypto trading
The post Russia’s new $600 cash withdrawal limit to curb crypto trading appeared on BitcoinEthereumNews.com. The new law allowing Russian banks to cap ATM withdrawals at will is going to seriously impact cryptocurrency trading, experts in the field predict. Small exchange offices and peer-to-peer platforms are likely to be affected the most as Russia takes another step towards completely banning crypto circulation. Targeting fraudsters, Russia to hit crypto traders The new Russian legislation, allegedly designed to fight financial fraud, came into force Sept. 1, 2025. It empowers banks to limit daily cash withdrawals at ATMs to 50,000 rubles ($600) for 48 hours, in case of suspicious transactions. The Central Bank of Russia (CBR) has compiled a list of telling signs that credit institutions can refer to when they need to determine if a transfer should be flagged as one. According to a report by the business news portal RBC, these include: Unusual behavior such as withdrawing an atypical amount of money from a new ATM, or at an unusual hour. Sudden spike in phone activity, like an increase in the number of messages received from new numbers; Changing the phone number used to authorize online banking transactions or the characteristics of the mobile device; Withdrawal of money within 24 hours after the registration of a loan or a credit, or an increase of the personal limit on cash withdrawals; Transfers between different accounts of the same holder, when they exceed 200,000 rubles. While the sponsors claim their amendments are targeting fraudsters, in reality, cryptocurrency traders will be affected as well, industry watchers say. At the very least, the new rules will force a change in the way crypto exchange services operate and will negatively influence peer-to-peer (p2p) trades in particular. Changing the Russian crypto market’s modus operandi The measures will curb the capabilities of crypto exchangers currently working mostly with cash, according to one of…
The post Russia’s new $600 cash withdrawal limit to curb crypto trading appeared on BitcoinEthereumNews.com.
The new law allowing Russian banks to cap ATM withdrawals at will is going to seriously impact cryptocurrency trading, experts in the field predict. Small exchange offices and peer-to-peer platforms are likely to be affected the most as Russia takes another step towards completely banning crypto circulation. Targeting fraudsters, Russia to hit crypto traders The new Russian legislation, allegedly designed to fight financial fraud, came into force Sept. 1, 2025. It empowers banks to limit daily cash withdrawals at ATMs to 50,000 rubles ($600) for 48 hours, in case of suspicious transactions. The Central Bank of Russia (CBR) has compiled a list of telling signs that credit institutions can refer to when they need to determine if a transfer should be flagged as one. According to a report by the business news portal RBC, these include: Unusual behavior such as withdrawing an atypical amount of money from a new ATM, or at an unusual hour. Sudden spike in phone activity, like an increase in the number of messages received from new numbers; Changing the phone number used to authorize online banking transactions or the characteristics of the mobile device; Withdrawal of money within 24 hours after the registration of a loan or a credit, or an increase of the personal limit on cash withdrawals; Transfers between different accounts of the same holder, when they exceed 200,000 rubles. While the sponsors claim their amendments are targeting fraudsters, in reality, cryptocurrency traders will be affected as well, industry watchers say. At the very least, the new rules will force a change in the way crypto exchange services operate and will negatively influence peer-to-peer (p2p) trades in particular. Changing the Russian crypto market’s modus operandi The measures will curb the capabilities of crypto exchangers currently working mostly with cash, according to one of…
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