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Bank of Russia Moves to Safeguard Crypto Companies Against Sanctions

December 15, 2022


Russia’s Central Bank Eases Supervision of Digital Asset Platforms Amid Sanctions

The Central Bank of the Russian Federation (CBR) has allowed issuers of digital financial assets (DFAs) not to disclose information sensitive in the light of sanctions risks. The exemption, valid until July 1, 2023, concerns data revealing the beneficial owners of such entities.

According to an announcement quoted by Russian crypto media, the temporary reporting relief is part of a package of measures meant to help persons and organizations operating within the Russian financial market infrastructure.