The Russian government plans to introduce amendments to the "Digital Currency and Digital Rights" bill before its second reading, granting the Central Bank of Russia authority to impose regulatory requirements on AML (Anti-Money Laundering) checks for crypto transactions. Alexey Yakovlev, head of the Financial Policy Department at the Ministry of Finance, stated that these services must assess whether crypto transactions comply with Russian laws and regulations. Additionally, they should evaluate the external risk perception of Russian wallets from an international perspective. However, the regulations also mandate that these AML services protect the confidentiality of Russia's financial infrastructure, prohibiting the disclosure of operational principles and internal processes to external parties.
Russia to Amend Crypto Law for Enhanced AML Oversight
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