Russia Tightens Crypto Rules with Tax ID Requirement
Russia has strengthened its anti-money laundering framework by making tax identification numbers mandatory for digital-depository accounts in the regulated crypto market.
The Federal Financial Monitoring Service has made it compulsory for clients opening these accounts to provide their individual taxpayer number, or INN.
This requirement is part of Russia's efforts to prevent anonymous transactions and money laundering in the crypto space. Transactions above 60,000 rubles now require detailed payer and recipient information, including names, account or wallet identifiers, addresses, and taxpayer details where applicable.
The updated rules have also prohibited digital depositories and operators from opening accounts under fictitious names or servicing clients anonymously.