The Central Bank of Russia will tighten oversight of Russians’ overseas transfers 💳 — banks will now be required to specify exactly what citizens are purchasing.
The regulator plans to expand reporting on cross-border transfers by individuals, obliging banks to disclose payment purposes in detail — from online games and marketplaces to car purchases, fines, insurance premiums, and transactions involving digital assets 📊.
The central bank will also require data on the residency status of both parties, fees charged, and sources of funds, with a particular focus on cryptocurrency 🔍.
This move is part of preparations for future regulation of digital currencies and broader efforts to increase transparency in financial flows.
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