The Central Bank of Russia is trying to push for all cryptocurrency traders to undergo identity verification checks

By: rootdata|2026/04/15 00:56:47
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According to DL News, the Kremlin wants to understand the demographics of people engaging in cryptocurrency transactions in Russia. The Central Bank of Russia aims to prohibit the withdrawal of crypto assets from wallets operated by domestic companies if users have not completed identity verification. As part of a package of cryptocurrency regulatory measures set to take effect in July, the central bank also wants to enforce KYC mechanisms on domestic trading platforms to achieve the de-anonymization of cryptocurrency transactions in Russia.

In addition, regulators want to grasp the situation of crypto assets held by citizens abroad. The first deputy governor of the bank, Vladimir Chistyukhin, stated in an interview: "No one is trying to stop Russian individuals or legal entities from continuing to hold cryptocurrencies in overseas wallets. Our only fundamental requirement is that they must declare these assets to the Federal Tax Service."

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