The Russian central bank plans to require banks to report details of cryptocurrency transactions

The Russian central bank plans to introduce new regulations requiring commercial banks to provide detailed reports on customers' cryptocurrency trading activities. This requirement is part of the new reporting system for cross-border fund transfers by Russian citizens. According to the draft, banks are required to report cryptocurrency buying and selling transactions, and provide details such as the identity information of both parties, the method of fund transfer, transaction intermediaries, and fees. In addition, transactions involving digital rights, tokenized physical assets (such as securities, precious metals), and NFTs also need to be separately reported.