Russia considers mandatory monitoring for crypto deals over 1M rubles

The Russian parliament is considering a mandatory monitoring system for cryptocurrency transactions exceeding one million rubles (approx. $11,000), Bitsmedia reported. The review is part of a supplementary bill to legislation on digital currencies and digital rights. The bill would significantly strengthen regulations for exchanges and related businesses, mandating customer identification, the detection of suspicious transactions, the establishment of internal control systems, the submission of data to government agencies, and integration with Russia's central bank.