Russian banks have begun investigating customers' USDT trading activities

According to bits.media citing RBC, several Russian banks focused on providing services to import and export businesses have begun to request cryptocurrency transaction explanations from their clients, requiring corporate clients to disclose the economic purpose of purchasing USDT and confirm that the counterparties providing the crypto assets are listed in the central bank's digital asset exchange operator registry.

However, this registry has not yet been established, and the relevant regulatory laws only took effect on September 1. The central bank is still formulating the details, making the banks' requests practically impossible to fulfill. Experts believe such requests do not comply with current laws, and lawyer Elizaveta Lobuteva stated that they should be regarded as routine compliance checks and preparations for future regulatory changes, rather than new mandatory obligations.