The Central Bank of Russia Will Control Crypto Transfers
The Central Bank of Russia will collect customer data if there is a risk of using banking platforms for illegal operations of cryptocurrency exchanges, online casinos and bookmakers.
According to the local edition “Prime” with reference to the press service of the regulator, the institution will collect “anonymized data of clients of those banks that provide services for P2P payments related to the use of payment cards and wallets issued for fictitious individuals by cryptocurrency exchangers, online casinos and unscrupulous participants in the financial market ”.
According to the Central Bank, the new rules will affect large frequent transfers, which are clearly different from the usual settlements of individuals or small businesses.
The bank clarified that if any suspicious activity is detected, banks will be asked for impersonal registers of those transfers of individuals that meet certain criteria. However, no identifying information will be requested.
Earlier, the local edition of RBC reported that the Central Bank of the Russian Federation sent out to credit institutions a new form of reporting on money transfers between individuals. It follows from it that the regulator will request information on all transfers between individuals, including the personal data of senders and recipients of funds.
Recently, the Central Bank of the Russian Federation announced its intention to ban investments in cryptocurrencies due to the risk of financial instability.
In September, the regulator announced plans to develop a mechanism for blocking payments to cryptocurrency exchanges and exchangers. Restriction options include blocking card transfers by certain MCC codes.