The Russian Central Bank Requires Declaration of Overseas Cryptocurrency Holdings

BlockBeats News, April 15th — The Bank of Russia has stated that, following the implementation of a new round of cryptocurrency regulations, it will require its citizens to declare their overseas-held cryptocurrency assets. Vladimir Chistyukhin, the First Deputy Governor of the Bank of Russia, pointed out that the new rules will strengthen KYC requirements for exchanges to enhance transaction transparency. He also emphasized that the regulation does not prohibit individuals or entities from holding cryptocurrency assets in overseas wallets, but they are required to declare them to the federal tax authority. This measure is expected to take effect in July along with the relevant regulatory framework.