Rich by Coin

Inquiries about whether pensions can be paid in crypto have become one of the most frequent non-standard requests received by the Social Fund of Russia, a state-run institution responsible for managing Russia’s public pension system. However, operators also increasingly fielded questions about digital assets. Among the most common crypto-related inquiries were whether Russian citizens could receive pension payments in cryptocurrency and whether income from crypto mining would be factored into the calculation of social benefits. In response, operators said all pensions and social payments are issued in rubles, and digital assets fall outside the Social Fund’s remit.

They added that matters related to cryptocurrency income and taxation are handled by the Federal Tax Service of Russia, not by pension authorities. Russia has emerged as Europe’s largest crypto market, outpacing the United Kingdom and Germany. The study revealed that Russia received $376.3 billion in cryptocurrency between July 2024 and June 2025, giving it a clear lead over the UK, which recorded $273.2 billion during the same period. The report attributed Russia’s rise to a sharp increase in institutional activity and broader use of decentralized finance.

Large crypto transfers above $10 million surged 86% year over year, nearly double the growth rate seen across the rest of Europe. Overall crypto inflows into Russia rose 48% from the previous year, widening the gap with other major European economies. Retail usage and DeFi adoption also played a key role. Russia recorded stronger growth in both large and small retail segments than the rest of Europe, while DeFi activity jumped eightfold in early 2025.

Russia proposes crypto access for retail investors. Last month, the Bank of Russia proposed a policy change that would allow non-qualified investors to buy certain cryptocurrencies under strict conditions. Retail investors would be permitted to purchase a limited set of liquid crypto assets after passing a knowledge test, with annual investments capped at 300,000 rubles ($3,834). Qualified investors would gain broader access to the crypto market, excluding privacy coins, and would also be required to complete a knowledge assessment.