Russia's State Duma Proposes Mandatory Monitoring of Crypto Transactions Over 1 Million Rubles

According to Bits.media, Russia’s State Duma is reviewing legislation that would mandate monitoring of cryptocurrency transactions exceeding 1 million rubles (approximately $13,700). The proposed law requires operators to identify customers, flag suspicious transactions, implement internal controls, and integrate with Russia’s central bank. Digital compliance checks—including wallet screening for money laundering and illicit financing risks—would become mandatory. Cryptocurrency exchanges may delegate customer verification to banks but must operate as non-credit institutions, giving the central bank authority to restrict activities, mandate management changes, remove operators from registries, or liquidate companies through legal proceedings.