The Russian P2P and crypto exchange market is experiencing significant challenges, with users increasingly migrating to other jurisdictions, according to Andrey Tugarin, founder of GMT Legal. Tugarin highlighted that the market has become deformed, with many users resorting to P2P schemes that are vulnerable to exploitation for money laundering, resulting in criminal liabilities and account freezes. Tugarin warned that the market is seeing a rise in fraudulent activities, with law-abiding participants being replaced by fraudsters. He noted the risks associated with providing personal information during P2P exchanges, which can lead to data and fund loss. As a result, users are considering exchanges in Belarus and Kyrgyzstan, which offer clearer legal frameworks and support for Russian rubles and Mir cards. Tugarin predicted a decline in P2P methods for crypto transactions due to these regulatory and operational risks.