Russia
Bitcoin Countries
Russia has had a complex relationship with Bitcoin, banning payments with it while allowing mining and investment. In 2023-2024, Russia moved toward legalizing Bitcoin for international trade settlements amid sanctions. The Bank of Russia regulates digital assets, and Russia is one of the world's top Bitcoin mining nations due to cheap Siberian energy.
Details
- Known For
- Top 3 global mining nation, Siberian hydro power, sanctions evasion use case, 2024 international trade legalization
- Legal Status
- restricted (legal to hold/mine, not legal tender)
- Mining Legal
- Yes
- Tax Treatment
- 13% personal income tax on gains
- Notable Policy
- Russia legalized Bitcoin mining in 2024; crypto payments remain banned; miners can sell Bitcoin internationally; major mining jurisdiction
- Regulatory Body
- Bank of Russia
- Btc Etf Approved
- No
- Capital Gains Tax
- Yes
- Regulatory Stance
- cautious_friendly
- Bitcoin Legal Status
- Legal to hold and mine; payments in Bitcoin banned
- Bitcoin Etf Available
- No
More Bitcoin Countries
El Salvador
El Salvador made history on June 9, 2021, as the first country to adopt Bitcoin as legal tender under President Nayib Bukele. The government continues to buy approximately 1 BTC per day, with its national treasury holding approximately 7,565 BTC as of February 2026. El Salvador built the state-sponsored Chivo wallet, launched volcanic geothermal Bitcoin mining operations, and proposed Bitcoin City — a special economic zone powered by a volcano. In 2025, El Salvador reached an IMF agreement that modified Bitcoin's legal tender status while maintaining its Bitcoin treasury strategy.
Switzerland
Switzerland is one of the most Bitcoin-friendly countries in the world, with the canton of Zug (dubbed "Crypto Valley") accepting Bitcoin for government services since 2016. Several Swiss cantons accept Bitcoin for tax payments, the country has clear digital asset property rights, and Switzerland is home to dozens of major Bitcoin and blockchain companies. Swiss banks like SEBA and Sygnum Bank offer institutional Bitcoin services, and the Swiss National Bank has explored digital asset frameworks.
United Arab Emirates
The United Arab Emirates has positioned itself as a global hub for Bitcoin and crypto businesses, with dedicated regulatory regimes in Dubai (Virtual Assets Regulatory Authority — VARA) and Abu Dhabi (ADGM). Abu Dhabi holds Bitcoin through the Phoenix Group, a publicly listed Bitcoin mining company. Major crypto exchanges including Binance have received licenses to operate in the UAE. The country's zero income tax, strategic location, and regulatory clarity have attracted significant Bitcoin institutional and mining infrastructure.
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