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🔥The Central Bank of Russia requires citizens to report their overseas crypto holdings
On April 15, the Central Bank of Russia announced that, after the new round of crypto regulatory rules take effect, it plans to require its citizens to declare their crypto assets held abroad.
Vladimir Chistyukhin, First Deputy Governor of the Russian Central Bank, pointed out that the new regulations will strengthen KYC requirements on trading platforms to improve transaction transparency.
He also emphasized that the regulation does not prohibit individuals or institutions from holding crypto assets in overseas wallets, but they must report to the Federal Tax Service.
This measure is expected to come into effect in July along with the related regulatory framework.