Russians Flood Pension Hotline Asking: Can We Get Paid in Crypto?

Russian citizens increasingly inquire whether pensions can be paid in cryptocurrency. The Social Fund of Russia, which handles public pension systems, reported a surge in calls about digital assets in 2025. Operators fielded frequent questions regarding whether pensions could be issued in crypto and whether crypto mining income would impact social benefits.

The Social Fund clarified that all pensions and social payments are issued exclusively in rubles. Operators stated that digital assets fall outside the fund's jurisdiction, and crypto taxation and income-related matters are handled by the Federal Tax Service.

Russia's growing interest in cryptocurrency is reflected in the number of calls to the pension hotline. This trend aligns with broader crypto adoption in the country, where institutional activity and decentralized finance usage have surged.

Why the Move Happened

In 2025, Russia's Social Fund received approximately 37 million calls, with crypto-related inquiries standing out. Citizens asked whether pensions could be issued in crypto or if mining income could influence benefit calculations. The unusual volume of these questions highlights a growing familiarity with digital assets among Russian investors.

Operators explained that the current legal framework does not allow for cryptocurrency to be used in pension payments. This clarification underscores the administrative boundary between social security systems and emerging digital finance tools.

Russia has emerged as Europe's largest crypto market, according to Chainalysis. Between July 2024 and June 2025, the country recorded $376.3 billion in crypto inflows, surpassing the United Kingdom's $273.2 billion. Large-scale transfers exceeding $10 million surged by 86% year over year during the same period.

Retail usage and decentralized finance adoption have also played a key role in Russia's crypto growth. The country ranks second globally in crypto mining activity, accounting for over 16% of the global hashrate in 2024.

What Analysts Are Watching

Regulatory frameworks in Russia continue to evolve ahead of mid-2026 implementation deadlines. Senior Kremlin official Maxim Oreshkin has pushed for crypto mining to be recognized as an export activity in Russia's trade accounts. Central Bank Governor Elvira Nabiullina noted that mining contributes to the ruble's strength but emphasized challenges in quantifying its economic impact.

Moscow Exchange and St. Petersburg Exchange confirmed their readiness to launch regulated crypto trading once legislative frameworks are fully implemented by July 1, 2026. These developments suggest that Russia is moving toward a more structured and transparent crypto market.

The country's banking sector is also adapting to digital assets. Sberbank, Russia's largest lender, now offers regulated crypto-linked investments, including structured bonds and digital financial assets tied to Bitcoin and Ethereum. Tether recently secured a trademark for its asset tokenization platform in Russia, signaling continued institutional interest in the market.

Despite growing adoption, Russian officials remain cautious about the broader implications of crypto. State Duma Committee Chairman Anatoly Aksakov emphasized that cryptocurrencies will not become legal tender in Russia and must remain within the boundaries of investment instruments.