Russian Miners Mandated to Comply with AML Regulations

On July 23, the Russian State Duma passed a law requiring miners to adhere to anti-money laundering (AML) regulations, as reported by RBC.

This is a separate document, not linked to the mining bill.

The initial version applied only to notaries. However, amendments for the second reading included miners, mining pool participants, and their administrators.

They are now subject to requirements for client identification and assessing the risk level of suspicious financial transactions.

If there are sufficient grounds to suspect money laundering or terrorism financing, the pool operator or a representative of the mining company must notify Rosfinmonitoring.

Earlier, it was revealed that deputies were supposed to begin considering the mining regulation bill in its first reading, but they did not manage to do so during the July 23 session.