The Bank of Russia has prepared new rules for controlling operations with cryptocurrencies and digital financial assets. According to the published draft, digital depositories will be able to refuse to conclude contracts with clients, and operations with incomplete information about participants will be rejected. The changes are aimed at combating money laundering and financing illegal activities.
The regulator proposes to pay special attention to companies with signs of fictitious activity. Reasons for an additional check may include minimal authorized capital, a mass registration address, the absence of an organization at the legal address, or a situation where the founder simultaneously performs the duties of a manager and an accountant. If there are suspicions, the depository will be able to refuse to conclude a digital accounting agreement.
Requirements for information on cryptocurrency operations will also be tightened. If the necessary information about their participants is missing or incomplete, depositories will be obliged to reject the crediting of digital currency or refuse to carry out the operation. Separate restrictions are provided for persons from lists related to extremism and terrorism, as well as in the presence of decisions to freeze assets.
Payment splitting will also be subject to additional control. In particular, a suspicious sign for operators of digital financial assets may be the separation of transfers from a nominal account to clients' personal accounts if the total amount of such operations reaches 1 million rubles. Attention will also be paid to transactions involving organizations from the Central Bank's warning list and related intermediaries.
At the same time, clients will retain the ability to challenge restrictions. To do this, they will need to submit documents refuting the suspicions that have arisen. If it is not possible to achieve a review of the decision, it will be possible to appeal to the interdepartmental commission under the Bank of Russia. For now, the new requirements are at the stage of public discussion and may change before final adoption.