After Grinex: Russia's Legal Crypto Channel and What It Means for European Compliance Teams

After Grinex: Russia's Legal Crypto Channel and What It Means for European Compliance Teams

WT Consults Research · September 2026 · 18 pages · PDF

Between 2025 and 2026, the ruble stablecoin A7A5 moved more than 100 billion dollars before coordinated sanctions shut it down. On 1 September 2026, Russia made crypto settlement of foreign trade legal. The token failed. The channel did not.

This report explains how the network worked, why it collapsed, and where Russian flows are likely to go next. It is written for compliance teams at crypto-asset service providers, banks, payment firms and exporters who need to understand their exposure now, not after the next designation.

Inside:

• Executive summary with key findings and recommendations
• Network diagram and profiles of all key actors
• Timeline 2022–2026
• Consolidated figures from leading blockchain analytics firms and the UK government
• US, UK and EU sanctions compared side by side
• Russia's new crypto law 282-FZ and the digital ruble explained
• Exposure map for European firms
• 15 red flags and typologies
• A 90-day action plan
• Regulatory reference and full source list

Licence: For internal use within the purchasing organisation.

For information only. Not legal advice.