Russia may build up a large financial centre on the Bolshoy Ussuriysky island bordering Russia and China, with the western parts of this permanently disputed territory annexed to China under an agreement of 2004. According to Leonid Petukhov, head of the Far Eastern Agency, the island may become a place for cryptocurrencies and foreign exchange markets to attract investment and enhance export.

Recently, Russia has built up two economic zones in a tax paradise: The island of Oktyabrsky outside Kaliningrad and the island of Russky in Vladivostok. None of these, however, deals with cryptocurrencies at present.

Last year, the authorities in the Crimean Peninsula, a territory claimed by Russia, pondered creating a blockchain cluster in the form of a cryptographic investment fund to attract more technological corporations to this area. However, the acceptance of cryptocurrencies and blockchains is not definitive in Russia and long-awaited legislation in the field of cryptocurrencies has not been implemented yet.