Bank of Russia collects data on crypto -related transactions between individuals - Finance
Bank of Russia collects data on crypto -related transactions between individuals - Finance
The Central Bank of Russia (CBR) plans to obtain information about some money transfers between private individuals from commercial banks, including customers who deal with cryptocurrency. The measure probably affects online crypto exchangers to whom the regulatory authority accuses of performing illegal operations.
Central bank checks transactions between Russians when replacing crypto
As part of the efforts to prevent certain transactions that they consider illegal, the Bank of Russia will obtain additional data from financial institutions that process transfers between individuals. The move affects a number of platforms that use accounts that are registered in the names of dummy people, such as online bookmakers and websites that offer crypto trade services, announced local media.
The Russian Economic News Portal RBC reported on Monday that the regulatory authority had sent banks a new registration form for transactions. According to the first report, the CBR intends to request information about money transfers between Russians, including the personal data of the sender and recipient of the funds.
In a press release cited by Prime, the currency authority later made it clear that the measure does not impose complete control over the transactions of individuals, but aims to identify risk areas in connection with the use of payment cards and wallets that are spent on cryptocurrency exchange to fictional individuals, online casinos and unscrupulous participants in the financial market for Billings with Russian citizens. ”
The Bank of Russia further emphasized that she would like to collect anonymized data from banking institutions that offer payment services for individuals, only if their platforms could be used for illegal operations. It also insisted that it was not planning to introduce new reporting procedures for all transactions, and explained that these were special cases in which large amounts of money are transferred to the same recipient in several transactions within hours.
According to CBR, such transactions are clearly not ordinary payments between private individuals and small companies. The central bank added that it could request additional data from the bank registers when compliance with certain criteria, but it insisted that it would not request any information that could be used to identify individual customers.
Russian authorities are now discussions for comprehensive regulation of Cryptocurrencies, since many activities associated with it, including trade and mining, do not fall into the scope of the law that came into force in January. In conversations in a Working group In the state duma, the bank of Russia has reported its longstanding position against the free traffic of Bitcoin and the like in the country Target = "_ blank" href = "https://news.bitcoin.com/opposed-bitcoin-payments-bank-ofrussia-fate-state-not-not-spread-of-cryptocurrencies/" Rel = "NOOPENER"> payments .
The currency authority also checks options to prevent Russians from investing in crypto-assets, including Blocking Card payments to certain recipients such as Coin trading platforms. This despite the estimates in the recently published overview of the financial stability for the second and third quarter 2021 Digital currency transactions are around $ 5 billion.
Do you believe that the Russian central bank will only collect anonymized data for transactions between Russian crypto users? Share your thoughts on this topic in the comments below. Bedy verification : Shutterstock, Pixabay, Wiki Commons 