- Bank of Russia imposes detailed reporting for international crypto transactions.
- Includes identities, methods, intermediaries, and fees.
- Targets enhanced transparency for digital financial assets.
Bank of Russia’s Enhanced Reporting for Crypto Transactions
The Bank of Russia is revising its reporting rules for private international financial transactions, requiring commercial banks to disclose detailed information on crypto-related activities, including cryptocurrency purchases and sales.
The revisions aim to enhance transparency in Russia’s crypto market, potentially impacting both domestic and international crypto trades by mandating comprehensive disclosures from banks handling such transactions.
Bank of Russia plans amendments requiring commercial banks to disclose detailed information on private international transactions involving cryptocurrencies. These disclosures include buyer identities, transaction methods, and fees, impacting how banks report crypto-related activities.
CBR’s initiative involves private individuals’ cross-border transactions, linking the amendments to broader crypto regulation efforts. It mandates separate reporting for purchases and sales of cryptocurrencies, tokenized assets, NFTs, and digital rights under the “On Digital Financial Assets” law.
The new rules could influence how cryptocurrencies, tokenized real-world assets, and NFTs are utilized internationally. They will affect banks’ operations, requiring new reporting structures to align with CBR’s goals for transparency and market regulation. As stated by the Central Bank of Russia, “We are proposing to enhance transparency in crypto-related transactions by extending reporting obligations to include detailed disclosures of buyer and seller identities, transfer methods, and other critical information.”
These regulations may lead to market shifts as financial institutions adapt to new compliance requirements, potentially altering crypto transactions and investment strategies by banks. This follows CBR’s easing of some outbound transfer restrictions in December 2025.
The announced changes reflect a broader trend of increased regulation within the crypto industry. As CBR enhances oversight, banks must adjust practices, potentially affecting global crypto transactions and investments. Banks are tasked with maintaining detailed reports for compliance.
The CBR’s actions may result in significant regulatory and technological outcomes by promoting transparency in digital financial assets. The transparency push supports a market study planned before summer 2026 aiming to assess banks’ crypto exposure and ensure compliance with Russian law.
