The Central Bank of Russia tightens regulation before the legalization of cryptocurrencies in 2026.
To prepare for legalization, the Central Bank of Russia recently introduced a new banking reporting mechanism. All financial institutions are now required to provide the regulatory authorities with complete information on crypto-related transactions. This move marks a significant step for Russia in establishing a regulated crypto ecosystem.
The transparency requirements are extremely strict. Banks need to report details of clients' crypto transactions, fund flows, and counterparty information. This unprecedented level of regulation reflects not only the cautious attitude of the central bank but also Russia's determination to maintain control over the legalization process.
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GasFeeBeggar
· 39m ago
Russia is really planning to squeeze all the crypto players dry. If transparency is so high, why still play?
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MagicBean
· 11h ago
This move by Russia seems like they're trying to test all the traders in the crypto circle.
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MysteryBoxAddict
· 11h ago
With such intense competition in transparency, it seems like legalization doesn't really matter anymore.
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GateUser-c802f0e8
· 11h ago
Russia is planning to keep all transactions under lock and key in a glass house; before legalization, they want to thoroughly check the underlying details.
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MoodFollowsPrice
· 11h ago
Another major regulation is coming, privacy is about to be affected
It seems Russia is fishing, first legalizing then gradually tightening
The central bank's move is clever, with a strong desire for control
Wait, is this about moving from on-chain to off-chain? Something's off
2026 is still early, policies might change by then
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LightningLady
· 12h ago
Russia's move is quite aggressive; they haven't even legalized it yet and they've already pulled down their pants.
The Central Bank of Russia tightens regulation before the legalization of cryptocurrencies in 2026.
To prepare for legalization, the Central Bank of Russia recently introduced a new banking reporting mechanism. All financial institutions are now required to provide the regulatory authorities with complete information on crypto-related transactions. This move marks a significant step for Russia in establishing a regulated crypto ecosystem.
The transparency requirements are extremely strict. Banks need to report details of clients' crypto transactions, fund flows, and counterparty information. This unprecedented level of regulation reflects not only the cautious attitude of the central bank but also Russia's determination to maintain control over the legalization process.