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Russia to Require Banks to Report Customers' Cryptocurrency Transactions
Summary: According to market sources, the Central Bank of Russia is planning to introduce new regulations that will require commercial banks to report in detail on customers' transactions related to cryptocurrencies. This requirement is part of the upcoming new reporting system for all cross-border fund transfers by Russian citizens. According to the draft, banks will need ...
According to market sources, the Central Bank of Russia is planning to introduce new regulations that will require commercial banks to report in detail on customers' transactions related to cryptocurrencies.
This requirement is part of the upcoming new reporting system for all cross-border fund transfers by Russian citizens. According to the draft, banks will need to report transactions involving buying and selling cryptocurrencies, providing information on the identity status of the parties involved, the specific method of fund transfer, the intermediary institutions handling the transactions, and the fees charged. Additionally, transactions involving digital rights, tokenized physical assets (such as securities, precious metals), and NFTs will also be separately reported.
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Link: Russia to Require Banks to Report Customers' Cryptocurrency Transactions [Copy]
