The Central Bank of Russia plans to enforce real-name registration for crypto transactions, fully strengthening oversight of fund flows.

ME News report: On April 15 (UTC+8), the Bank of Russia said it is seeking to require all cryptocurrency traders to complete identity verification (KYC) and to limit withdrawals of crypto assets from domestic platforms by users who have not been verified, in order to strengthen oversight of the domestic crypto market. Under the proposed rules, Russia would require domestic exchanges to fully implement real-name systems and would ban users from transferring funds from domestic custodial wallets to overseas non-custodial wallets. At the same time, regulators also plan to require residents to declare their overseas crypto asset holdings to enhance monitoring of capital outflows. Bank of Russia First Deputy Governor Vladimir Chistyukhin said the new rules will not prohibit individuals from holding or using crypto assets, but will focus on improving transparency and compliance to mitigate money-laundering risks. The policy is expected to take effect in July this year, alongside a new round of crypto regulatory legislation. Analysts believe this move reflects Russia’s attempt—amid economic pressure—to control capital flows by strengthening crypto regulation. (Source: ODAILY)