Russian banks will soon be required to provide detailed data on cryptocurrency transactions.
The Bank of Russia has developed amendments to financial institution reporting requirements that will require companies to provide the regulator with information on individual transfers related to the purchase and sale of digital assets. This measure is intended to ensure oversight of transactions involving virtual currencies, whose circulation is regulated by Federal Laws No. 259-FZ and No. 418-FZ.
According to the analyst Happy Coin News Yuri Savelyev, the Central Bank is trying to bring peer-to-peer trading of digital assets, where coin purchases and sales are conducted directly between individuals, out of the shadows. However, how banks will detect cryptocurrency-related transactions remains a mystery. It’s clear that those involved in peer-to-peer trading won’t indicate the purpose of the transaction in the comments.
At the same time, the Bank of Russia is lobbying for a proposal to open access to digital assets to non-professional investors. The Central Bank wants allow Ordinary Russians can invest up to ₽300,000 per year in cryptocurrencies, while professional investors can invest any amount. Parliamentarians have taken up the regulator’s initiative and have already drafted a decree regulating investments in digital assets, taking into account the opinions of Bank of Russia employees. It is likely to be adopted in 2027.