The Central Bank of Russia plans to regulate anti-money laundering verification services for cryptocurrency transactions.

CoinFeed reported on May 20th that, according to Bits.media, the Russian government's bill on cryptocurrency regulation will be revised during its second reading, potentially granting the central bank the power to set requirements for anti-money laundering verification services (AML) for cryptocurrency transactions. Alexei Yakovlev, head of the Financial Policy Department of the Ministry of Finance, stated that he hopes to authorize the central bank to make requests to AML services, enabling them to verify whether transactions comply with current Russian laws and regulations. A representative from the Ministry of Finance stated that the authorities plan to mandate that AML services consider an "external perspective," analyzing the performance of Russian crypto wallets in international services and "the image of the Russian system abroad." Simultaneously, such services must "maintain the confidentiality of the Russian financial infrastructure," not disclosing their operating principles and internal process details to outsiders. AML services are platforms that help users verify the risks of crypto wallets in terms of international sanctions, anti-money laundering, and counter-terrorism financing.