Russia mandates tax IDs for crypto depository accounts

Russia’s Federal Financial Monitoring Service (Rosfinmonitoring) announced that individuals must provide their taxpayer identification number (INN) when opening an account with a Russian digital depository. The move is aimed at improving transparency of cryptocurrency transactions and strengthening anti‑money‑laundering (AML) controls.

New identification requirement

Clients will need to supply their 12‑digit INN, a number already used for tax and employment purposes, as a compulsory identifier for crypto accounts. Rosfinmonitoring adviser Vlada Gracheva said the INN becomes a “new mandatory, specifically mandatory, identifier” for AML purposes.

Reporting thresholds

Crypto transactions exceeding 60,000 rubles must include detailed information about both payer and recipient, such as full name, digital wallet or account identifier, address, date of birth and INN where available. Transactions at or below the threshold require only basic details, but AML suspicions trigger the full reporting regime.

Context of the regulated market

The requirement follows the launch of Russia’s regulated crypto market on 1 September, under the first comprehensive framework for trading, custody and cross‑border settlement of digital assets. The law, signed by President Vladimir Putin on 4 August, brings exchanges, brokers, depositories and other intermediaries under supervision.

Non‑qualified investors must pass a knowledge test and are limited to purchasing 300,000 rubles of eligible cryptocurrencies per year per intermediary, while qualified investors face no such ceiling. The Bank of Russia has proposed Bitcoin, Ether and USDT as assets eligible for organized trading.

Future developments

Rosfinmonitoring’s expanded AML powers will apply to digital depositories, which must now collect and transmit the required information. The law also bars anonymous accounts and sets a registration deadline of 1 July 2027 for existing crypto service providers.

Separately, the Bank of Russia is working on linking INNs to traditional bank accounts as part of its Antidrop platform, scheduled for launch in 2027, to combat money‑mule activity.