In Russia, the digital ruble was included in anti-money laundering legislation
The Federation Council of Russia has approved a bill that integrates the digital ruble into the financial monitoring system and makes it part of the law "On Combating the Legalization (Laundering) of Criminally Obtained Incomes" (115-FZ), RBC reports.
According to the document, control over transactions with digital rubles will be carried out jointly by the Bank of Russia (as the platform operator) and commercial banks participating in the CBDC circulation. The format of checks depends on how the user initiates the transaction: if through the Central Bank, identification and control is carried out by the regulator, if through a commercial bank, responsibility lies with the financial institution, similar to the current KYC/AML procedures when working with bank accounts.
The following functions are also retained:
- customer identification;
- identification of suspicious transactions;
- transfer of data to Rosfinmonitoring;
- restriction or blocking of transactions at the request of the supervisory authority.
“Digital rubles will now be controlled as strictly as bank transfers,” Rosfinmonitoring stated.
Initially, the bill provided for exclusively centralized control by the Central Bank of the Russian Federation, but after discussions, a hybrid format was adopted, agreed upon with Rosfinmonitoring.
Earlier, the Supreme Court of the Russian Federation judge Evgeny Rudakov shared statistics and practice of considering cases related to cryptocurrency crimes.
