Russia Mandates Tax ID Numbers for Crypto Users

Russia has introduced a new law requiring crypto users to provide their Taxpayer Identification Number (TIN) before opening an account.

Vlada Gracheva, advisor to the Director of Rosfinmonitoring, stated that this is part of the government's fight against money laundering.

The TIN is a 12-digit number assigned to Russian citizens and used throughout the federation.

Under the new law, crypto users will need to provide more detailed information to access their accounts, including their passport details, proof of address, and source-of-funds documentation.

Crypto operating companies have until July 1, 2027, to regularize their licensing status, or face severe penalties or outright bans.