Russia makes taxpayer ID mandatory for crypto accounts at digital depositories

  • Rosfinmonitoring requires clients to provide INN when opening digital depository accounts.
  • Transactions above 60,000 rubles require detailed payer and recipient information.
  • Russia’s regulated crypto market began operating under new rules on Sept. 1.

Russia now requires clients to provide their individual taxpayer number, or INN, when opening accounts with digital depositories that record cryptocurrencies and digital rights. Rosfinmonitoring says the mandatory identifier will improve transparency and support anti-money-laundering oversight. Transactions exceeding 60,000 rubles require covered institutions to collect and transmit detailed information about payers and recipients. The rules took effect as Russia launched its regulated crypto market on Sept. 1, following a crypto law signed by President Vladimir Putin on Aug. 4. The framework also governs exchanges, brokers and other intermediaries, permits certain cross-border crypto settlements, and bars cryptocurrency payments for ordinary goods and services inside Russia.

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