Russians will be banned from opening crypto accounts without a tax identification number.

An adviser to the director of Rosfinmonitoring, Vlada Gracheva, stated that clients must provide their taxpayer identification number (INN) to open an account with a Russian digital depository. The requirement was introduced to combat money laundering and ensure transparency in cryptocurrency transactions.

Gracheva explained that the INN is becoming a new mandatory identifier for the anti-money-laundering system. “No one had anything like this before. This is to ensure the transparency of transactions carried out with cryptocurrency,” the official said. At the same time, the INN remains optional in banking.

What is an INN, and where is it required?

An INN is a 12-digit number assigned to a Russian citizen once and used throughout the Russian Federation. The number does not change even if the person changes their place of residence, surname, or other passport details. Currently, an INN is primarily requested for official employment and tax purposes. An INN is not required to open a bank account or brokerage account or to obtain a loan.

Linking INNs to bank accounts

The Bank of Russia is working on a mechanism for linking INNs to bank accounts. This measure is necessary for the operation of the “Antidrop” platform, which is scheduled to launch in 2027.

Rosfinmonitoring’s control over crypto transactions

Rosfinmonitoring has been granted the authority to monitor all crypto transactions in accordance with the law “On Digital Currencies and Digital Rights.” The initiative requires Russian digital depositories and foreign financial organizations to submit data to Rosfinmonitoring on Russians’ transactions involving crypto assets when the transaction amount exceeds 60,000 rubles. Market participants must provide complete information about the payer and recipient—from the individual’s full name or the legal entity’s name to their physical address.

FAQ

Why is an INN becoming mandatory for opening a crypto account in Russia?

The INN is being introduced as a mandatory identifier for the anti-money-laundering system to ensure transparency in cryptocurrency transactions and combat money laundering. According to Rosfinmonitoring Director’s Adviser Vlada Gracheva, no financial organization had previously imposed such a mandatory requirement.

When does the requirement to provide an INN for crypto accounts take effect?

The source states that Rosfinmonitoring introduced the requirement in accordance with the law “On Digital Currencies and Digital Rights.” The “Antidrop” platform, whose operation requires linking INNs to bank accounts, is scheduled to launch in 2027.

What data must financial organizations submit to Rosfinmonitoring?

Russian digital depositories and foreign financial organizations must submit data to Rosfinmonitoring on Russians’ transactions involving crypto assets when the transaction amount exceeds 60,000 rubles. The information provided must include complete details about the payer and recipient—from the individual’s surname, first name, and patronymic or the legal entity’s name to their physical address.