Fragmentation of Transfers: How Cryptocurrency Exchanges in Russia Complicate Traders' Lives

In recent months, Russian cryptocurrency market users have faced a new problem: when exchanging digital assets for rubles through exchanges or exchangers, funds arrive in bank accounts in the form of numerous small transfers. This trend, known as 'transfer fragmentation', causes not only inconvenience but also increased scrutiny from banks, which often leads to account blocks. Let's explore why this happens, the consequences for market participants, and what measures can help minimize the risks.

Causes of Transfer Fragmentation

According to media reports, transfer fragmentation became noticeable in the Russian cryptocurrency market in 2025. The main reason is the desire of some exchange services and platforms to minimize risks associated with regulatory restrictions and financial transaction monitoring. By breaking large sums into many small transactions, platforms try to reduce the likelihood of attracting attention from banks and regulators, such as Rosfinmonitoring.

Additionally, fragmentation may be related to the technical features of some exchange platforms that use automated systems to distribute funds through several intermediary accounts. This creates the appearance of 'normal' transactions, reducing the risk of being classified as suspicious. However, as practice shows, such measures are not always effective.

Banks' Reaction and Consequences for Users

Banks, in turn, are ramping up control over operations related to cryptocurrencies due to their potential linkage to illegal schemes. According to information published in 'Vedomosti', the accounts of cryptocurrency sellers are often blocked due to the suspicious nature of small transfers. Banks view such operations as potentially linked to money laundering or financing illegal activities, consistent with warnings from the Central Bank of the Russian Federation. In June 2025, the CBR pointed out the risks of using cryptocurrencies through illegal exchangers, which may be linked to terrorism financing.

For users, this creates significant inconvenience: account blocks can freeze access to funds for an indefinite period, and unblocking requires submitting documents confirming the legitimacy of operations. This is especially problematic for private traders and investors who may not always be able to promptly provide the necessary evidence.

Regulatory Context

The Russian cryptocurrency market is under close scrutiny by regulators. In June 2025, the analytical platform Chainalysis reported that the volume of investments in digital assets in Russia reached 2.3 trillion rubles, reflecting market activity growth. Simultaneously, the Central Bank and Rosfinmonitoring are intensifying control over transactions related to cryptocurrencies, forcing market participants to seek new ways to adapt.

The Russian Export Center (REC) launched a platform for cross-border settlements using cryptocurrencies, indicating a gradual legalization of such operations. However, the lack of clear legislative frameworks for exchanging cryptocurrencies for rubles creates legal uncertainty, contributing to transfer fragmentation and subsequent account blocks.

Prospects and Recommendations

The current situation requires increased caution from market participants. Experts recommend traders and investors use licensed exchange platforms and clarify with banks in advance the conditions of working with accounts related to cryptocurrency operations. It is also important to maintain documentation confirming the legitimacy of funds to minimize block risks.

In the long term, solving the problem may involve developing more transparent mechanisms for regulating the cryptocurrency market in Russia. It is expected that the launch of the first official cryptocurrency exchange, announced by the RF Ministry of Finance, will help simplify the exchange process and reduce the number of suspicious operations.

Conclusion

Transfer fragmentation in the exchange of cryptocurrencies for rubles has become a new reality for Russian users. While this practice aims to reduce risks for exchange services, it creates additional challenges for traders, including bank account blocks. To minimize issues, market participants should carefully choose exchange platforms and be prepared to interact with banks. Amid increasing regulatory control, the development of transparent infrastructure for cryptocurrency operations remains a key factor in market stabilization.