The special service made this proposal as part of the work on the bill “On Digital Currency”
The Federal Security Service of the Russian Federation proposed to oblige cryptocurrency exchanges to provide data on clients and their transactions not only at the request of the courts, but also of law enforcement agencies. This proposal, according to Izvestia, is contained in reviews of the draft law on the regulation of cryptocurrencies developed by the Ministry of Finance of the Russian Federation.
In addition, the intelligence service proposed to prescribe in the law the need to coordinate with the authorized state authorities the requirements for the storage and protection of information on the circulation of cryptocurrencies. Except
Also in its response, the Federal Security Service draws attention to the fact that the bill obliges exchanges to report to the authorized body the identification features of cryptocurrencies, but does not regulate their “composition, nature and formation procedure” in any way.
In addition to the Federal Security Service, the Ministry of Internal Affairs, the Ministry of Economic Development, the Ministry of Digital Development, Communications and Mass Media, the Ministry of Justice, the Ministry of Energy, the Federal Tax Service and Rosfinmonitoring left their comments on the bill developed by the Ministry of Finance
The Ministry of the Interior believes that the document does not fully define the procedure for the exchanges to execute a court order to seize cryptocurrency and create a wallet to store seized or confiscated assets. The Federal Tax Service has proposed to tighten the regulation of crypto exchanges and crypto wallets without a license.
The draft law “On Digital Currency” was finalized by the Ministry of Finance, taking into account comments from various departments, and on April 8 was submitted to the Government for consideration.
