Russia is set to enhance its financial oversight by granting Rosfinmonitoring the authority to monitor all cryptocurrency transactions. A new bill, expected to take effect on September 1, mandates detailed reporting for crypto transactions exceeding 60,000 rubles and cross-border operations over 1 million rubles. The legislation requires digital custodians and foreign financial institutions to disclose comprehensive information about transaction parties, including names, wallet addresses, and tax IDs. Additionally, the bill proposes expanding the Russian Central Bank's powers to restrict or prohibit crypto activities that may threaten investor interests or financial stability. This move aims to tighten control over the burgeoning crypto market and ensure compliance with financial regulations.