Russia is moving to tighten oversight of crypto-related accounts and transactions, according to a report cited by ChainCatcher from Bits.media. Vlada Grachova, an adviser to the Federal Financial Monitoring Service of the Russian Federation, said customers opening accounts with digital custody institutions in Russia will be required to provide a taxpayer identification number. The stated purpose is to improve transparency in cryptocurrency transactions and help prevent money laundering.
The report also said Rosfinmonitoring has been granted the authority to monitor all crypto transactions. If a transaction exceeds 60,000 rubles, the relevant institution must report full information on both parties to regulators, including their names and actual residential addresses. Previously, providing a taxpayer identification number was not mandatory when opening a bank account.
At the same time, the Central Bank of Russia is studying a mechanism to link taxpayer identification numbers to bank accounts. A related anti-fraud platform is expected to go live in 2027.
Russia is tightening compliance requirements tied to crypto custody accounts, according to Bits.media as cited by ChainCatcher.
Vlada Grachova, an adviser to the Federal Financial Monitoring Service of the Russian Federation, said customers opening accounts with digital custody institutions in Russia will be required to provide a taxpayer identification number. The measure is intended to increase transparency in cryptocurrency transactions and help prevent money laundering. Previously, opening a bank account did not require a taxpayer identification number.
Transactions above 60,000 rubles must be reported
The report said Rosfinmonitoring has been given the authority to monitor all crypto transactions. When a transaction exceeds 60,000 rubles, the institution involved must submit full information on both parties to regulators, including their names and actual addresses.
Central bank studies account-linking mechanism
The Central Bank of Russia is also studying a mechanism that would link taxpayer identification numbers to bank accounts. A related anti-fraud platform is expected to launch in 2027.
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