{"id":17419,"date":"2024-10-01T12:13:57","date_gmt":"2024-10-01T09:13:57","guid":{"rendered":"https:\/\/forklog.com\/en\/bank-of-russia-to-scrutinise-cross-border-bitcoin-transfers-by-citizens\/"},"modified":"2024-10-01T12:13:57","modified_gmt":"2024-10-01T09:13:57","slug":"bank-of-russia-to-scrutinise-cross-border-bitcoin-transfers-by-citizens","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bank-of-russia-to-scrutinise-cross-border-bitcoin-transfers-by-citizens\/","title":{"rendered":"Bank of Russia to Scrutinise Cross-Border Bitcoin Transfers by Citizens"},"content":{"rendered":"<p>The Bank of Russia has mandated 19 financial institutions to examine cross-border transfers by resident individuals related to cryptocurrency purchases. This is outlined in the regulator&#8217;s approved <a href=\"https:\/\/cbr.ru\/statistics\/pr\/\">inspection programme<\/a> for late 2024 to early 2025.<\/p>\n<p>The regulator aims to assess the volume of digital currency transactions, particularly stablecoins, conducted by Russians abroad.<\/p>\n<p>From October to December, commercial banks will review transactions from the first to the third quarter of the current year. A similar examination will be conducted in the first quarter of 2025.<\/p>\n<p>The requested information includes:<\/p>\n<ul class=\"wp-block-list\">\n<li>method of transfer (via payment systems, with or without account opening, using electronic money);<\/li>\n<li>counterparty recipient\/sender;<\/li>\n<li>country code of the recipient\/sender bank;<\/li>\n<li>currency code of the transfer;<\/li>\n<li>number of transactions;<\/li>\n<li>amount of transfers (including suspicious transactions).<\/li>\n<\/ul>\n<p>The study will involve <a href=\"http:\/\/cbr.ru\/StaticHtml\/File\/166119\/pr_28a.pdf\">19 banks<\/a>, including Asian-Pacific Bank, Avangard, Ak Bars, BCS Bank, Kuban Credit, MTS Bank, Raiffeisenbank, Solidarity, Soyuz, Citibank, UniCredit, and Unistream.<\/p>\n<p>In April 2024, a pilot project was launched to <a href=\"https:\/\/forklog.com\/en\/news\/five-russian-banks-pilot-bitcoin-transaction-tracking\">establish links<\/a> between fiat and cryptocurrency transactions by users, involving the Bank of Russia, Rosfinmonitoring, and five major banks.<\/p>\n<p>In June, Russian Prosecutor General Igor Krasnov <a href=\"https:\/\/forklog.com\/en\/news\/russian-prosecutor-general-announces-oversight-of-cross-border-cryptocurrency-transfers\">announced<\/a> oversight of cross-border cryptocurrency movements by Russians using special software.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Russia has mandated 19 financial institutions to examine cross-border transfers by resident individuals related to cryptocurrency purchases. This is outlined in the regulator&#8217;s approved inspection programme for late 2024 to early 2025. The regulator aims to assess the volume of digital currency transactions, particularly stablecoins, conducted by Russians abroad. From October to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[345,1229,1227,36,27,1515],"class_list":["post-17419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-russia","tag-banks-and-fintech","tag-cryptocurrency-transactions","tag-regulation","tag-russia","tag-tracking"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17419"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17418"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}