Russia's Central Bank will require government officials and financial institutions to disclose cryptocurrency holdings in anti-corruption declarations starting July 1, 2027.
Regulation & Gov ·
Russia's Central Bank has unveiled a draft regulation requiring government officials and financial institutions to disclose cryptocurrency holdings through anti-corruption declarations, with compliance set to begin July 1, 2027. The rule will mandate reporting of coins held, proceeds from their sale, and income derived from mining activities. Financial organizations will need to report their clients' cryptocurrency positions as part of these declarations. The regulatory framework stems from the "On Digital Currencies and Digital Rights" law, which entered into force in September following its August adoption. The specifics of how institutions will verify and validate these disclosures remain to be clarified as the regulation moves toward finalization.