ChainCatcher report, according to bits.media citing RBC, several Russian banks specializing in services for import-export businesses have begun requesting explanations from clients regarding cryptocurrency transactions, requiring corporate clients to disclose the economic purpose of purchasing USDT and to confirm that the counterparty providing the crypto assets is listed in the Central Bank’s registry of digital asset exchange operators. However, this registry has not yet been established; the relevant regulatory law only takes effect on September 1, and the Central Bank is still drafting detailed guidelines, making banks’ requests currently unfulfillable. Experts believe such requests are inconsistent with current law; lawyer Elizaveta Lobuteva stated they should be viewed as part of standard compliance reviews and preparations for future regulatory changes, rather than as newly imposed obligations.
Russian banks begin inquiring about USDT transactions of business clients.
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Summary
Russian banks are investigating USDT transactions under a CFT framework, requesting import-export clients to explain the purpose of purchases and verify counterparties against the Central Bank’s digital asset registry. The registry is still under development, and the law only took effect on September 1. Compliance remains challenging, with experts describing the checks as routine but inconsistent with current regulations. Risk-on assets such as USDT are facing increased scrutiny as regulators prepare for stricter controls.
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