Russia mandates that a taxpayer identification number must be provided to open a cryptocurrency account

According to Bits.media, Vladislav Glazcheva, an advisor to the Federal Financial Monitoring Service of Russia, stated that when opening accounts at digital hosting institutions in Russia, customers will be required to provide a taxpayer identification number to ensure the transparency of cryptocurrency transactions and prevent money laundering.

Previously, it was not mandatory to provide a taxpayer identification number when opening a bank account. In addition, the Russian Financial Monitoring Service has been authorized to monitor all cryptocurrency transactions, and any transaction amount exceeding 60,000 rubles must be reported to the regulatory authorities with complete information about both parties involved in the transaction, including names and actual addresses. The Central Bank of Russia is also studying a mechanism to link taxpayer identification numbers with bank accounts, and the related "anti-fraud" platform is expected to officially launch in 2027.