According to ChainCatcher, citing DL News, the Kremlin wants to understand the population engaged in cryptocurrency transactions in Russia. The Central Bank of Russia wants to prohibit users from withdrawing crypto assets from wallets operated by domestic companies if they haven't completed identity verification. As part of a package of crypto regulations scheduled to take effect in July, the central bank also wants to mandate KYC (Know Your Customer) mechanisms on domestic trading platforms to deanonymize crypto transactions in Russia.
In addition, regulators also want to know about the cryptocurrency assets held abroad by Russian citizens. Vladimir Chistyukhin, the bank's first deputy general manager, stated in an interview: "No one is trying to prevent Russian individuals or legal entities from continuing to hold cryptocurrency in overseas wallets. Our only basic requirement is that they must declare these assets to the Federal Tax Service."
