Russia to Introduce Register for Crypto-Investors

According to the latest information published by “Izvestia” resource, the authorities are currently working on the creation of a special database (registry) of all crypto-market participants. The identification will take place by identification numbers (INN) and identity documents. Moreover, to be able to invest in the ICO, the citizens will need to obtain special certificates.

The Ministry of Finance and the Central Bank of Russia will act as supervisory bodies. It is already known that the wallet will not be anonymous. To exclude the possibility of conducting anonymous cryptocurrency operations, the wallet will be tied to the INN, and the owner of the wallet can be identified by biometrics.

Such an identification system is introduced as a measure for fighting money laundering through the use of crypto-assets. Experts agree that this program will help make the industry more transparent. However, after such measures, the capital will probably move from Russia to foreign platforms. Surprisingly, the idea of a register was supported by RACIB.

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