Scores of older Russians have asked their national pension fund to pay benefits in cryptocurrency, according to the fund's reports. Many also inquired about how their Bitcoin mining activities might affect social payments. The requests highlight growing crypto interest among seniors, despite legal restrictions on its use as payment.
The Pension and Social Insurance Fund of Russia fielded 37 million calls from pensioners in 2025, with cryptocurrency-related queries emerging as a top concern. "Current trends are being reflected in citizens’ questions," the fund noted on its Telegram channel. Inquirers specifically asked if they could receive pensions in cryptocurrency and whether income from crypto mining would influence calculations for social benefits.
Russia's legal framework prohibits the use of cryptocurrency as a payment method for individuals, government bodies, and companies. Pension payments remain exclusively in rubles, as fund experts clarified to callers. Taxation of digital assets is handled by the Federal Tax Service.
Crypto mining is on the rise in the country, with most private citizens able to operate at home without government declaration. However, a law enacted in November 2024 requires those consuming over 6,000 kilowatt-hours of electricity monthly to register and pay taxes on earnings.
This trend among Russian baby boomers mirrors global shifts. In the United States, a Gallup poll from last year found that 12% of men aged 50 or older and 9% of women in the same group own crypto. In the United Kingdom, Cartwright Pension Trusts supported a pension scheme that invested directly in Bitcoin, yielding a 56% gain over 12 months, with the asset comprising 3% of holdings. South Korea's President Lee Jae-myung, prior to his May election, pledged to permit the National Pension Fund to invest in crypto.
Such developments signal fading stereotypes of cryptocurrency as a pursuit for the young, with older generations showing resilience in their investments.
