Bank of Russia to Require Cryptocurrency Declaration in Statements

The Bank of Russia plans to amend bank statements by adding information about cryptocurrencies, including data on digital assets, income from their sale, and mining results. Starting from July 1, 2027, banks and financial organizations will be required to reflect data on clients' cryptocurrency assets in such documents. This information will be necessary for anti-corruption declarations filled out by civil servants, deputies, and employees of the Central Bank. A law on the state regulation of the cryptocurrency market has been in effect in Russia since September 1. The Moscow Exchange is preparing to launch trading in the BTC/RUB instrument, reflecting the exchange rate of Bitcoin to the ruble, as well as an instrument linked to the "quasi-dollar." Trading is expected to begin in December. It is also required to provide the taxpayer identification number when opening an account in the Russian digital depository to combat money laundering.

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