The Central Bank of Russia Plans to Introduce New Regulations Requiring Banks to Report Customers' Cryptocurrency Transactions

Golden Finance reports that, according to market sources, the Central Bank of Russia is planning to introduce new regulations requiring commercial banks to provide detailed reports on customers' cryptocurrency-related transactions. This requirement is part of the upcoming new reporting system for all cross-border fund transfers by Russian citizens. According to the draft, banks need to report transactions involving cryptocurrency buying and selling, and must provide information such as the identities of the parties involved, the specific methods of fund transfer, the intermediary institutions handling the transactions, and the fees charged. Additionally, transactions involving digital rights, tokenized physical assets (such as securities and precious metals), and NFTs will also be reported separately.