New Regulations for Cryptocurrency Exchanges in Russia

Rosfinmonitoring has announced new regulations for cryptocurrency exchanges in Russia. Olga Tisen stated that all exchanges will be required to obtain licenses and store customer data for five years. This includes information about the senders and recipients of digital assets.

The main goal is to improve the detection of crimes related to cryptocurrencies. Upon request from law enforcement, exchanges will be obligated to provide user information. Route rules for transactions are also being introduced, requiring the disclosure of information about both parties involved in the transaction.

It is expected that most of the bills will be passed by the end of the year, making the market more transparent and secure, as well as simplifying the fight against crypto fraud.

We are monitoring the situation—these new rules could change the crypto ecosystem in the country!