Russia Tightens Cryptocurrency Control: Data Sharing Without Court Orders

Russia’s regulatory crackdown on crypto continues to intensify, with the country’s anti-money laundering agency, Rosfinmonitoring, sharing user data from cryptocurrency exchanges without court orders. This move significantly undermines the anonymity believed within the cryptocurrency ecosystem. The agency argues that crypto transactions are not truly anonymous and asserts that user data is shared directly with law enforcement agencies. Despite a lack of official legal recognition for cryptocurrency exchanges in Russia, these companies are proactively cooperating with state authorities to comply with anticipated future regulations.