2026-02-17 05:57:02

🇺🇸 Illegal lenders are turning to cryptocurrency.

Member of the Public Chamber of the Russian Federation, Evgeny Masharov, stated that illegal microfinance organizations (MFOs) have begun actively promoting "loans in cryptocurrency" on social media, disguising them as investment projects.

What’s happening:
➥ Starting March 1, 2026, microfinance companies are required to issue loans only with biometric identification of the borrower.
➥ Amid these changes, illegal lenders have become more active on social media.
➥ They advertise loans as "quick financing in digital currency."
➥ They promise convenience and instant crediting without unnecessary checks.
➥ Essentially, these are the same gray MFOs but in a "cryptocurrency wrapper" that allows them to bypass new requirements.

Main risks:
➥ Cryptocurrency volatility.
➥ Borrowers often do not understand the true cost of the debt.
➥ Interest rates can be astronomical.

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