According to Bits Media, the Russian Ministry of Finance stated that although market participants are calling for non-custodial wallets to be incorporated into the "legal system," the Ministry is currently only considering opening them to a very limited number of specific legal entities after enforcement practices are established, through legal experiments or pilot mechanisms, and will definitely not open them to retail investors. The Ministry emphasized that while Russia does not plan to ban holding non-custodial wallets, when withdrawing assets from domestic legitimate crypto custody institutions and exchanges, withdrawals will only be allowed to custodial wallets with mandatory identity verification (KYC), and transfers from Russian custody wallets to overseas non-custodial wallets are strictly prohibited. Additionally, the draft law "Digital Currencies and Digital Rights," which is preparing for a second review, may introduce new provisions, including imposing additional fees or restrictions on certain crypto activities, such as stablecoin USDT.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • 1
  • Share
Comment
Add a comment
Add a comment
L2NightCourier
· 7h ago
If non-custodial wallets are not allowed, then what is the spirit of Web3?
View OriginalReply0
On-ChainCatUnderTheMoonlight
· 7h ago
Extraction is only possible with a verified wallet, isn't this essentially a covert way of monitoring on-chain funds?
View OriginalReply0
NoSleepBridge
· 7h ago
USDT also needs to add fees, stablecoins are becoming unstable
View OriginalReply0
ColdStartUnderTheAurora
· 7h ago
Is the pilot for corporations? Those in the know understand, and in the end, it's just an oligopoly game.
View OriginalReply0
GateUser-f92ba9fa
· 7h ago
This move by Maozi is truly abstract; once the KYC cage is closed, retail investors directly become leeks. Only the government is allowed to set fires, right?
View OriginalReply0
  • Pinned