Russian Banks Seek Crypto Trade Explanations From Corporate Clients

Several Russian banks focused on serving import and export companies have begun asking clients for explanations of cryptocurrency transactions, including the economic purpose of buying USDT and whether the counterparty providing the digital assets is listed in the central bank’s register of digital asset exchange operators. According to Odaily, the register has not yet been established, while the relevant regulatory law will take effect on September 1 and the central bank is still drafting the rules, making the banks’ requests impossible to meet.Experts said the requests do not comply with current law. Lawyer Elizaveta Lobuteva said such demands should be seen as routine compliance checks and preparation for future regulatory changes, rather than a new mandatory obligation.