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The Russian Prosecutor General has classified the Ukrainian cryptocurrency exchange WhiteBit as an “undesirable organization”. They accuse him of facilitating illegal money transfers from Russia and financing the Ukrainian armed forces.
This designation also extends to Whitbet’s company, W Group, and all its affiliated entities, prohibiting their operations in Russia.
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Russia is moving against WhiteBit in a growing anti-crypto war campaign
It helps Local media reported that, according to Russian authorities, the management of WhiteBeat transferred about $11 million to Ukraine by 2022. This includes about $900,000 allocated for the purchase of drones.
The prosecutor’s office also claims that the platform provided technical support to United24, the state-backed Ukrainian cryptocurrency donation platform.
They were also allegedly involved in “shadow schemes” to siphon money from Russia and carry out other illicit activities.
Founded in 2018 by Ukrainian entrepreneurs, WhiteBit claims to have an active user base of more than 8 million and a daily spot trading volume of $11 billion, with futures trading reaching $40 billion.
Despite its international reach, the platform now faces major restrictions in Russia Regulatory environment tight
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The move against WhiteBit coincides with an acceleration of Russia’s push to legalize cryptocurrency regulation. According to local media, situation The Bank of Russia has introduced new licensing requirements for cryptocurrency exchanges and digital deposits, promising a simpler license for platforms that do not deal in securities.
Banks and brokers who want to work with digital currencies face special requirements to limit the risks they face TradeFi activity.
Yekaterina Lozgacheva, Director of the Department of Strategic Development of the Financial Market at the Bank of Russia, confirmed that the regulator aims to facilitate the sale of… Mined digital coins Locally and abroad. At the same time, it imposes penalties on brokers who participate in illegal activities.
These measures are expected to enter into force on July 1, 2027, once amendments to Russian legislation related to cryptocurrencies are completed.
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Russia proposes strict limits on investment in digital currencies
As part of the proposed framework, non-professional investors will be allowed to invest in cryptocurrencies, but within strict annual limits.
currently, suggests The Central Bank sets a maximum of 300,000 rubles per year for intermediaries. However, the Ministry of Finance indicated that this figure could be revised.
Deputy Finance Minister Ivan Chepiskov said that any market proposal to raise this limit will be considered. This reflects a broader intention to balance investor access with financial guarantees.
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Finance Minister Anton Siluanov expressed his support for the plan. He noted that non-professional access should be limited to officially registered platforms and subject to investment limits.
“To reduce risks, the Central Bank plans to limit the volume of such transactions and investments in the digital currency market,” As you said Local media, citing Siluanov.
He noted that the draft legislation regulating digital currencies is expected to be presented to the State Duma in the first half of 2026.
WhiteBit’s takedown highlights growing Russian scrutiny of cryptocurrency flows, especially amid… Geopolitical tensions with Ukraine.
As authorities tighten supervision of cryptocurrency brokers and demonstrate clear legal responsibility, cross-border platforms may face increased operational and legal risks in the Russian market.
