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Recently, representatives of Rosfinmonitoring published legislative amendments in the money transfer segment. It was indicated that credit institutions may be required to conduct transactions indicating the recipient’s data (passport or TIN). Experts told the Crypto.ru editors about how this could affect cryptocurrency demand.
Dmitry Mazanov, a representative of the Arbitroom IT company, noted: “These amendments can really have an impact on interest in digital assets in the Russian Federation. One of the main attractive features of cryptocurrencies is their decentralized and anonymous nature. If the new rules require banks to indicate the details of the recipient when transferring, this may reduce the anonymity and privacy of transactions. But it should be borne in mind that the amendments have not yet been adopted at the legislative level and are at the proposal stage. And their ultimate impact on the crypto sector will depend on specific details and implementation.”
OXLY.IO Brand Manager Danatar Atajanov said: “The banking community has asked the regulator for clarification on the new amendments, especially in terms of recipient data requirements, as well as exclusion of the fast payment system from the new rules. It is not known how banks can verify the accuracy of the recipient’s data, while the SBP receives preferences relative to other market players. The desire of Rosfinmonitoring to reduce the risks of illegal activities can backfire. It is possible that the current requirements will provoke an increase in shadow financial activity. It is unlikely that this will specifically affect the cryptocurrency sector. This segment will continue to develop dynamically, and future trends will depend on many factors, including regulation.”
Boris Bogoutdinov, Managing Partner of Consulting Company 2B Dialog LLC, said: “This innovation is an initiative, and is expected to be adopted in 2026, and primarily involves the regulation of banks. However, the document does not contain data on the cryptocurrency segment. But we can definitely say that this initiative will arouse the interest of Russians in digital assets. It is worth considering that in recent years the amount of cash has increased significantly in the Russian Federation. This confirms that people are already working in a gray area. In general, the attention of the regulator is accompanied by an increase in the tax burden. That is why many Russians consider crypto wallets as a viable alternative to bank transfers.”
Svetlana Mkrtchyan, head of the sales department at Turov Invest, noted: “It is still difficult to judge exactly how the plans of Rosfinmonitoring will affect cryptocurrency demand. But it is likely that the partial restriction of cash and cash transfers may lead to an increase in interest in digital assets. But it should be noted that these amendments are still a proposal and are not enshrined at the legislative level. Their concrete impact can only be clearly assessed once they enter into legal force.”
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