Russia to tighten KYC rules for Crypto

Crypto Regulation

A proposal which prepared and submitted by the Andrey Khrapov will be charging a stricter rule for the cryptocurrency industry in Russia, especially in terms of KYC requirements. The report prepared by Khrapov highlighted that any transaction worth approximately $9,000 needs to be monitored by the Russian authorities as an effort to combat the money laundering activities involving digital currencies.

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