TechFlow News, May 20: According to Bits.media, Alexei Yakovlev, Head of the Financial Policy Department at Russia’s Ministry of Finance, revealed that amendments currently under review to Russia’s cryptocurrency regulation bill will introduce new provisions during its second reading. These provisions would empower the Central Bank of Russia to impose compliance requirements on anti-money laundering (AML) review services for cryptocurrency transactions. Under the proposed amendments, AML service platforms must ensure that transactions involving Russian cryptocurrency wallets comply with domestic laws and regulations. Additionally, these platforms must assess—“from an international perspective”—how Russian wallets are perceived by foreign services, thereby gauging how the global community views Russia’s cryptocurrency ecosystem.
At the same time, such platforms are required to maintain strict confidentiality regarding the internal operational mechanisms of Russia’s financial infrastructure and must not disclose such information externally. The draft law, titled “Digital Currency and Digital Rights,” has already passed its first reading and is now undergoing revisions ahead of its second reading.
