According to Bits media, the Russian government plans to pass a package of legislation authorizing the Federal Financial Monitoring Service of Russia to monitor all cryptocurrency transactions, and require more detailed information to be collected for crypto transactions exceeding 60k rubles and for cross-border crypto transactions exceeding 1 million rubles. Russian digital depositories and foreign financial institutions will need to submit the names or corporate names of the payers and recipients, wallet addresses, physical addresses, dates of birth, and tax identification numbers; for transactions below 60k rubles, only the names or corporate names and wallet addresses are required. The legislation also proposes capping banks' digital asset exposure at 1% of the bank group's capital, and expanding the Russian Central Bank's authority to restrict or ban certain crypto transactions. The relevant law was originally planned to take effect on July 1, but deliberation has been hindered, and it may now be implemented on September 1.