TechFlow News, July 10, according to Interfax, Russia plans to pass a new bill authorizing the financial monitoring agency Rosfinmonitoring to monitor all cryptocurrency transactions. The bill stipulates that crypto operations exceeding 60,000 rubles and cross-border trade crypto operations exceeding 1 million rubles must report extended information, and transaction data between residents and non-residents will be automatically transmitted to the financial intelligence department.
In addition, the bill requires digital custodians and foreign financial institutions to provide complete information of both parties to the transaction, including name, wallet address, physical address, date of birth, and tax number; at the same time, it plans to expand the powers of the Central Bank of Russia, allowing it to restrict or prohibit them when crypto operations threaten investor interests or financial system stability. The bill is expected to take effect simultaneously with the main bill starting from September 1.
