Russia plans to further strengthen regulation of cryptocurrency trading.

According to the direction of the bill, large cryptocurrency transactions will need to submit more complete identity information, while the scale of crypto assets that banks can hold will also be limited, and the central bank’s management authority over certain crypto transactions will be further expanded.
In my view, this is a shift in the regulatory approach.
In the past, the debate was whether to develop crypto; now more countries are starting to discuss how to regulate crypto. The focus is no longer on simply imposing restrictions, but on strengthening management of risks related to large fund inflows and outflows, cross-border payments, and anti-money-laundering.
For the industry, transparency and compliance requirements will keep increasing, and the space for anonymous transactions will keep shrinking.
In the future, the real competition may not be about who regulates more strictly, but about who can strike a better balance between safety, compliance, and innovation.
#监管 # compliance #innovation