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>>Russian banks are now permitted to conduct limited cryptocurrency transactions.

Russian banks are now permitted to conduct limited cryptocurrency transactions.

crypthub

about 19 hours ago

Russia's Approach to Crypto Integration

Russia is permitting domestic banks to engage in limited cryptocurrency operations under strict regulatory oversight. This measured approach is designed to discourage banks from prioritizing crypto trading and maintain financial stability. The Bank of Russia aims to avoid excluding banks entirely while implementing conservative controls on digital asset involvement.

Anti-Money Laundering and Transparency

All cryptocurrency transactions will adhere to existing anti-money laundering (AML) regulations to prevent illicit activities. Enhanced transparency is crucial, requiring identification of all parties and clear fund sources. Banks, brokers, and exchanges will face accountability and potential penalties for failing to monitor illegal transactions.

Planned Digital Asset Audit

The Bank of Russia will conduct a major audit of the nation’s cryptocurrency holdings and activities starting in early 2026. This assessment will involve cross-referencing data from miners, exchanges, and tax services. The audit intends to identify discrepancies between reported and actual crypto transactions.

Diverging Views Within Government

While some Russian government ministries are pushing for clearer crypto regulations and taxation, the central bank favors a more cautious strategy. This divergence reflects a prioritization of financial stability over rapid integration of digital assets.