As the summer season approaches and travel increases to destinations like Turkey and Vietnam, a Russian legal analyst explained that holders of cryptocurrencies like Bitcoin (BTC) are not required to disclose their balances when leaving Russia.
📌 The reason? Because cryptocurrencies are not recognized as "money" in Russia, but are considered digital property only.
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💵 What should really be declared?
✅ You must declare to customs if you have more than $10,000 in cash or travel checks.
❌ There is no need to declare amounts held in bank cards or cryptocurrency wallets.
⚠️ But: Exporting foreign cash over $10,000 has been temporarily banned since the beginning of the war in Ukraine to prevent the smuggling of hard currency out of the country.
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🔐 Are cryptocurrencies an alternative refuge?
While Russia prohibits the use of crypto for domestic payments, it allows it for cross-border payments to help businesses circumvent sanctions.
💰 Digital assets in Russian accounts exceeded $25 billion
🔁 Cryptocurrencies are being used more widely in foreign trade and to bypass financial restrictions.
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📌 Summary:
If you are Russian and own Bitcoin or others, you can travel safely without declaring them, as they are not considered "currency" officially.
However, within Russia, the use of crypto is still subject to strict oversight, especially in payments.