Russia’s central bank is set to investigate cross-border cryptocurrency transfers by residents as part of its oversight program. The investigation will focus on banking channels to assess the volume and nature of crypto-related operations. Key factors such as transaction forms, transfer directions, counterparties, and the banks involved will be analyzed. Major financial institutions like Raiffeisenbank, Citibank, MTS Bank, Unistream, as well as regional banks, will be included in the study. The goal is to assess the impact of crypto-related cross-border transfers on the broader financial system. This comes as crypto adoption in Russia continues to rise, with approximately 6% of Russians holding cryptocurrency.
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Russia’s central bank to probe crypto-linked cross-border transfers, banking channels
