International Settlement Unrestricted: Russia's Proposed Bill Still Permits Use of Non-Custodial Wallets

Odaily reports that Vladimir Chistyukhin, First Deputy Governor of the Bank of Russia, stated that the restrictions on the use of non-custodial wallets in Russia's proposed cryptocurrency bill do not apply to international settlements, and non-custodial wallets remain permitted in such scenarios. During the legislative process, the possibility of Russian investors using non-custodial wallets was discussed, and it was ultimately decided not to allow investors to directly use such wallets for investment, in order to reduce anti-money laundering risks and strengthen regulation. Users can still transfer crypto assets from custodial wallets within Russia to custodial wallets in overseas infrastructure, and then transfer them to non-custodial wallets.