The FSB of the Russian Federation plans to request information from crypto exchanges

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The FSB of the Russian Federation has issued a draft order on expanding the powers of the department’s employees, which will allow them, among other things, to send requests to operators of information systems for the release of digital financial assets (DFA).

The service also plans to obtain the right to request information from credit institutions, tax authorities and institutions that carry out state registration of rights to real estate and transactions with it.

In the explanatory note, the department refers to the changes in anti-corruption legislation, according to which information about the CFA must be reflected in the income statements. If approved, the new powers will allow employees to send inquiries to cryptocurrency issuing operators and bitcoin exchanges as part of anti-corruption investigations.

Now the document is undergoing public discussion and an independent anti-corruption expertise.

On January 1, 2021, the law “On digital financial assets” came into force in the Russian Federation. It recognizes cryptocurrencies as property and prohibits their use to pay for goods and services in the country.

Earlier, the leadership of the FSB has repeatedly announced the use of cryptocurrencies for financing terrorism and proposed to prohibit the issuance and use of digital currencies as a means of payment on the territory of the Russian Federation.

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