The financial regulator of the Russian Federation — Rosfinmonitoring — proposes to license crypto exchanges and exchangers, obliging them to collect information about the owners of cryptocurrencies and provide this data to law enforcement agencies. This is reported by The Moscow Times.
According to the new plan, crypto exchanges in Russia will have to register and obtain licenses, which will include the obligation to keep all data about the owners of crypto wallets and their transactions for at least five years. In addition, exchanges are required to provide this information upon request by government or law enforcement agencies.
"A lot of crimes are committed all over the world with the help of blockchain and digital currencies," explains Olga Tysen, the head of the legal department of Rosfinmonitoring. She emphasized that currently the only way to identify the owner of a crypto-wallet is for law enforcement officers to contact crypto-exchanges, but there is still no established procedure for such applications there is no
Under the new draft law, all crypto exchanges will have to verify information about the owner of a cryptocurrency wallet and store data on all transactions for five years.
"Exchanges will be obliged to provide all necessary data to state authorities. This applies to both transactions and their senders and receivers," Tysen added.
She also noted that the development of clear routing rules that will record details about transactions is a complex technical task, but it is critically necessary for the implementation of control over the circulation of cryptocurrency in the Russian Federation.
