Bank of Russia to Monitor Banks’ Dealings With Crypto Exchangers
The Central Bank of Russia has started to examine the operations of Russian banks with cryptocurrency exchangers, according to local media. Transactions between individuals through these platforms are of particular interest as the regulator believes these carry risks of financial losses and fraud. Central Bank Asks Russian Banks for Details on Crypto-Related Transactions In late December, the Central Bank of Russia (CBR) sent commercial banks a new reporting form for transactions, seeking information about money transfers related to crypto exchange websites. These are mostly....
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Discussions on the future of “virtual currency exchangers” in Russia should be completed in 2022, a high-ranking representative of the country’s financial watchdog has indicated. Following international standards, authorities in Moscow would have to either regulate or ban such platforms. Decision on Digital Currency Exchangers in Russia Expected Next Year Considerations regarding the regulatory treatment of online exchangers working with cryptocurrencies must come to an end in 2022. That’s according to a statement by the Deputy Director of Russia’s....
The Central Bank of Russia (CBR) plans to obtain information from commercial banks pertaining to some money transfers between private individuals, including clients trading cryptocurrency. The measure is likely to affect online crypto exchangers which the regulator accuses of conducting illegal operations. Central Bank to Check Transactions Between Russians Exchanging Crypto As part of efforts to clamp down on certain transactions it considers illegal, the Bank of Russia is going to seek additional data from financial institutions processing transfers between individuals. The move concerns....
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Come 2018, Russia could recognize bitcoin and other cryptocurrencies as authorities seek to enforce rules against money laundering to essentially monitor all bitcoin transactions. Rounding off a significant turn from the authoritarian stance toward bitcoin in Russia, Deputy Finance Minister Alexei Moiseev has now talked about acknowledging bitcoin and cryptocurrency in a legal capacity in 2018. In quotes reported by Bloomberg, Moiseev revealed the Russian state’s intention to include bitcoin transactions in Russia under its purview, hinting toward possible regulations of the bitcoin....