Bank of Russia Tightens Control Over USDT Cash Exchanges

The Bank of Russia and commercial banks have begun blocking transfers related to the exchange of USDT for cash through stablecoin arbitrage. Users transfer money from Russian banks to accounts in other CIS countries, most often in Belarus, then buy USDT and sell it for cash through Russian crypto exchanges. The profitability of one cycle can reach 2% or more, and some market participants conduct hundreds of millions of rubles in transactions daily. The Bank of Russia views such operations as a legalization of funds of unspecified origin, leading to caution from commercial banks. USDT arbitrage is not prohibited, but experts point to the risks associated with selling cryptocurrency for cash. Starting from July 1, 2027, the exchange scheme will become unworkable, as direct transfers of cryptocurrency between individuals through P2P platforms will be banned.

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