In brief:
₿- Russia’s new crypto AML rules require customers to provide a 12-digit INN when opening digital depository accounts, strengthening identity verification and transaction transparency.
₿- The requirement comes as Russia expands cryptocurrency regulation, bringing crypto exchanges, brokers, and digital depositories under stricter oversight and registration requirements.
Russia is tightening cryptocurrency identification rules by making taxpayer identification numbers mandatory for customers opening digital depository accounts. The move adds a tax-linked identifier to the onboarding process as the country begins implementing its new regulated crypto market.
The requirement was announced on Sept. 9 by Vlada Gracheva, an adviser to the director of Russia’s Federal Financial Monitoring Service (Rosfinmonitoring). She said an individual taxpayer number, known as an INN, will become a mandatory identifier for the anti-money laundering system when customers open accounts with Russian digital depositories.
INN becomes part of Russia’s crypto AML framework
An INN is a 12-digit taxpayer identification number assigned to individuals in Russia. It is commonly used for tax and employment purposes and generally remains associated with an individual even when other personal information, such as a surname or address, changes.
The requirement gives cryptocurrency accounts a specific identity marker that is not generally mandatory when customers open ordinary Russian bank accounts. Authorities say the measure is intended to increase transparency around cryptocurrency transactions and strengthen anti-money laundering controls.
The identification requirements extend beyond account opening. For cryptocurrency transactions exceeding 60,000 rubles, covered institutions may have to collect more extensive information about the parties involved, including names, digital account or wallet identifiers, residential details, dates of birth, and taxpayer identification numbers where applicable.
Smaller transactions remain subject to a more limited information set, although enhanced identification can be required when an institution suspects money laundering or terrorist financing.
New Russian crypto market brings stricter oversight
The changes come shortly after Russia’s regulated cryptocurrency market officially opened on Sept. 1. The new framework establishes rules for crypto exchanges, brokers, digital depositories, and other intermediaries involved in cryptocurrency trading, custody, and certain cross-border settlements.
The framework also prohibits digital depositories and relevant digital asset operators from maintaining anonymous accounts or accounts under fictitious names. This places customer identification and transaction monitoring at the centre of Russia’s approach to regulating cryptocurrency activity.
The Bank of Russia has proposed Bitcoin, Ether, and USDT as assets that could qualify for organised trading, subject to criteria including liquidity, market capitalisation, and international trading history.
Cryptocurrency remains prohibited as a payment method for ordinary goods and services within Russia, although the new framework permits crypto to be used for certain cross-border settlements.
Russia links crypto activity more closely to financial identities
The mandatory INN requirement illustrates the extent to which Russia is incorporating cryptocurrency into its existing financial monitoring infrastructure rather than treating it as a separate financial system.
Existing crypto service providers have until July 1, 2027, to register under the new regime. Major financial institutions are also preparing services for the market, with Sberbank planning cryptocurrency trading, custody, and settlement infrastructure alongside a digital depository.
As Russia expands its regulated crypto market, requiring taxpayer identification at the account-opening stage gives authorities greater visibility over cryptocurrency users and transactions, reinforcing the state’s efforts to bring crypto activity under tighter control and financial oversight.
Disclaimer: The content of this article is for informational purposes only and does not constitute financial, investment, or trading advice. Readers should conduct their own research and consult a qualified cryptocurrency advisor before making any investment decisions.
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Rodcas Consulting Group