Russian Central Bank Plans to Require Reporting of Overseas Crypto Asset Holdings

Odaily News According to the Russian Central Bank, it plans to require its citizens to report their crypto assets held overseas after the new round of crypto regulatory rules take effect.

Vladimir Chistyukhin, First Deputy Governor of the Russian Central Bank, pointed out that the new regulations will strengthen KYC requirements for exchanges to enhance transaction transparency. He also emphasized that the regulations do not prohibit individuals or institutions from holding crypto assets in overseas wallets, but they must be reported to the Federal Tax Service. This measure is expected to take effect in July along with the relevant regulatory framework. (DL News)