FTX Payouts in Russia 2026: Why Step 8 Is Blocked

Is Russia on FTX's restricted list?

Yes. FTX's support page "General Information on Distribution Service Providers" (updated 2 October 2026) says: "As of October 1, 2026, the following jurisdictions are not eligible for distributions and creditors resident in those jurisdictions cannot select Distribution Service Providers in the FTX Customer Portal." Russia is one of the 44 jurisdictions on that list. FTX adds: "The FTX Debtors are continuing to assess eligible jurisdictions."

In practice, Step 8 of the portal offers no provider to a resident of Russia. The other steps still matter: keep your KYC and the tax form (Step 7) complete, so nothing else holds the claim back if a route opens.

Russia was also among the 49 jurisdictions named in Exhibit B to the FTX Recovery Trust's motion of 2 July 2025 on "potentially restricted foreign jurisdictions" (D.I. 31148). The Trust withdrew that motion without prejudice on 3 November 2025 (D.I. 33439), so it can be filed again.

And in the Bahamas (PwC) process?

Russia is restricted there too. PwC's page "Potentially Restricted Foreign Jurisdictions" for FTX Digital Markets (last modified 15 October 2026) lists 46 jurisdictions: FTX's 44 plus Pakistan and Zimbabwe. PwC says it is "unable to provide any details on timelines or likely outcomes at this stage".

Why payouts to Russia are blocked

FTX publishes no reasons for any country on its list. What is on record:

None of FTX's three distribution service providers can be selected by a resident of Russia in the portal.
Kraken's Global Terms (last updated 19 October 2026) do not allow residents of Russia to use Kraken.
Payoneer stopped serving clients in Russia from 16 December 2022, according to its notice to clients reported by DOU on 16 November 2022.

Our reading: with no provider available, Russia is unlikely to leave FTX's list soon. We would plan around January 2027 rather than wait for a change.

What happens if you do nothing

Deferral. FTX: "If a Distribution Service Provider is unable to service your jurisdiction, your distribution will be deferred to a later date."
The six-month rule.
FTX's Distributions Dashboard FAQ (updated 13 September 2026) says a holder of an allowed claim who does not complete onboarding with a provider within six months from the 31 July 2026 distribution date may forfeit their right to receive distributions on that claim.
Six months from that date is about 31 January 2027. That is our calculation; your own FTX notice gives the date that applies to you.
FTX has not said how this rule applies when a country is blocked.

FTX Step 8 deadline

Step 7. The tax form must be completed within 90 days of FTX's first notice after each record date; otherwise that distribution is permanently forfeited.
No court route today. The 2025 motion on restricted jurisdictions was withdrawn and can be filed again.

Your options

1. Wait.

Keep KYC and Step 7 complete, and check Step 8 every month.
It costs nothing and can suit small claims.
The risk is the six-month rule around January 2027.

2. Update your residence, only if you have genuinely moved abroad.

FTX: "Email KYC-Support@ftx.com to request an update to your jurisdiction information"; "the FTX Recovery Trust will evaluate and update your jurisdiction as appropriate."
The provider's country must match your KYC country, so a temporary or borrowed address will fail the provider's checks.

3. Sell the claim to Paxtibi.

We buy the claim and file the transfer with the US court under Bankruptcy Rule 3001(e).
You are paid at signing.
After the 21-day notice period, future distributions go to us.

4. Payment processing.

If you want to keep the value of future distributions, you transfer the claim to Paxtibi under a written agreement.
When FTX pays, we forward the funds to you.
We charge a success fee on the recovered amount; if FTX does not pay, we earn nothing.

You choose between options 3 and 4; we explain both before you decide.

What not to do:

pay anyone who promises to "unblock" your country;
share your FTX portal login, seed phrases or private keys;
use someone else's address or documents for KYC.

Rules in Russia to know

General information, not legal or tax advice.

1. New crypto law. Federal Law No. 282-FZ "On Digital Currencies and Digital Rights" was signed on 4 August 2026; its main provisions apply from 1 September 2026 (Interfax, 4 Aug 2026; ConsultantPlus, 5 Aug 2026).

2. No crypto payments inside Russia. Paying for goods, works and services with digital currency remains banned. There are exceptions, such as settlements under foreign trade contracts (Interfax; ConsultantPlus).

3. Limits for retail buyers. Non-qualified investors can buy the most liquid cryptocurrencies only after a test, and up to 300,000 rubles a year through one intermediary. The Bank of Russia sets the list of assets and the test (Habr; Kod.ru).

4. Licensed intermediaries from 1 July 2027.

Until then, there is a transition period.
From 1 July 2027, only organisations in the Bank of Russia's registers can carry out these operations.
Banks will refuse residents' transfers to "unauthorised recipients" (ConsultantPlus; Habr).

5. Crypto held abroad. Residents must notify the tax authority about digital currency held abroad. From 2 May 2027, they must also report their operations with digital currency in foreign systems (Habr; ConsultantPlus).

6. Foreign bank accounts. A Russian tax resident must notify the Federal Tax Service no later than one month after opening an account in a foreign bank (FNS; Vitvet).

7. Tax.

Since 1 January 2025, income from buying and selling crypto is taxed at 13%, or 15% on the part above 2.4 million rubles a year (law signed 29 November 2024; Expert.ru).
Further amendments are being discussed (PPT.ru, 27 May 2026).
An FTX claim is a claim in a US bankruptcy case, not crypto. Ask a tax adviser how a sale of the claim is taxed in your case.

Who is buying your claim

PAXTIBI LLP, a limited liability partnership registered in England and Wales in 2023, company number OC449662. Registered office: 27 Old Gloucester Street, London WC1N 3AX; branch in Dubai.
Run by its two founding partners, named with their backgrounds on our About page.
Rated 4.6/5 from 19 reviews on Trustpilot.
Listed as a creditor in the FTX Chapter 11 case (No. 22-11068, US Bankruptcy Court, District of Delaware): see the court record.
Videos from the founders on our YouTube channel.
We never ask for upfront fees, private keys, seed phrases or passwords.

FAQ

Can residents of Russia receive FTX distributions in 2026?

Not directly. As of 1 October 2026, Russia is on FTX's list of jurisdictions that are not eligible for distributions, so Step 8 of the portal offers no provider. The claim itself remains; FTX says the distribution is deferred.

What is the deadline for FTX creditors in Russia?

FTX's FAQ says a holder who does not complete Step 8 within six months from the 31 July 2026 distribution date may forfeit their right to receive distributions on the claim. That is about 31 January 2027. FTX has not said how this applies when a country is blocked.

Can I change my country in the FTX portal to get paid?

Only if you have genuinely moved. Email KYC-Support@ftx.com; FTX says the Recovery Trust will evaluate and update your jurisdiction as appropriate. The provider's country must match your KYC country.

Can I sell an FTX claim from Russia?

Yes. Paxtibi buys claims from residents of Russia. The transfer is filed with the US court under Bankruptcy Rule 3001(e), and you are paid at signing. If you prefer to keep the value of future distributions, payment processing is the alternative.

Is selling an FTX claim the same as trading crypto?

No. An FTX claim is a right to distributions in a US bankruptcy case, valued in US dollars at November 2022 prices. Ask a tax adviser how a sale is taxed in your situation.

Sources

This page is general information, not legal or tax advice. Paxtibi buys FTX claims and offers payment processing, so we have a commercial interest in the options described.

FTX payouts in Russia: why Step 8 is blocked and what you can do

Key facts