The Russian government has persuaded the country's central bank to drop its proposal for a crypto ban and sign up to a framework for regulation. By baidakov.
. With such a large volume of crypto, law-enforcement agencies are concerned they can't adequately approach crimes involving crypto, the document said.
All crypto-related transactions bigger than 600,000 rubles must be reported to the Federal Taxation Service. Failure to do so should be considered a felony, and using cryptocurrency to conduct a crime should be an aggravating factor. Cryptocurrency exchanges and peer-to-peer marketplaces must register as legal entities and join an official register of digital-currency exchange operators. They must open a crypto account with an authorized bank and satisfy certain requirements applying to traditional financial organizations. Foreign exchanges must have an office in Russia and be registered there.developed by Rosfinmonitoring
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