1. Russia Plans Real-Name Crypto Trading and Sets Criminal Thresholds for Illegal Crypto Transactions link

The Central Bank of Russia plans to require all cryptocurrency traders to complete identity verification and promote the implementation of KYC mechanisms by domestic exchanges to reduce anonymous transactions. It also requires residents to declare their holdings of overseas cryptocurrency assets and restrict the transfer of assets from local custodial wallets to foreign non-custodial wallets. The relevant rules are expected to take effect in July this year along with cryptocurrency regulatory legislation.

The Government Legislative Commission of Russia has approved a draft bill introducing criminal liability for the illegal…