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      Russia Enforces Reporting Requirements for Foreign Crypto Transactions

      Russia has introduced a new law mandating that investors report their foreign cryptocurrency holdings to the Federal Tax Service. This regulation, known as Federal Law No. 282-FZ, took effect on September 1, 2026, and aims to bring transparency to a burgeoning crypto market estimated at $44 billion, with approximately 20 million Russians holding digital assets.

      Under the new law, retail investors are subject to annual purchase limits of 300,000 rubles, or about $3,600, when trading through licensed intermediaries. The law also restricts the available stablecoins for retail investors to only Tether (USDT), while other foreign stablecoins remain off-limits. This move is part of a broader strategy to regulate the crypto market and mitigate risks associated with foreign assets, particularly in light of past incidents where foreign stablecoins were frozen due to sanctions.

      Deputy Finance Minister Ivan Chebeskov highlighted the risks of holding foreign stablecoins, citing a previous incident in 2025 when Tether froze assets linked to a sanctioned Russian exchange. The government hopes that by allowing USDT as the sole retail stablecoin, they can provide a safer trading environment while still accommodating the significant demand for digital assets among Russian investors. With daily transaction volumes reaching around $600 million, the new regulations reflect the government's effort to manage a rapidly growing sector.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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