Bank Russia continues to work on forming a regulated cryptocurrency market. According to recent statements, it is planned to connect digital depositories to the system «Know your customer» (KYC), which is already used in the banking sector.

The new model involves deeper user identification and enhanced control over digital asset operations. In fact, the cryptocurrency infrastructure will gradually be integrated into the existing financial supervision system.

The main goal of the initiative — increasing transparency of the market, reducing the risk of fraud and creating uniform control standards for participants in the financial system.

If the proposed measures are implemented, the Russian cryptocurrency market will come even closer to the regulation model used for banks, brokers and other financial organizations.

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