The Russian government has reportedly prepared a review of the draft bill “On Digital Financial Assets,” detailing that the exchange of cryptocurrency for fiat for more than 600,000 rubles (about $9,600) or its foreign equivalent is subject to mandatory currency exchange regulation, according to local crypto news outlet Forklog Friday, April 13.
This review has not yet been presented to the State Duma, according to Anatoly Aksakov, the head of the financial market committee. Forklog notes that transactions of more than 600,000 rubles are already tracked by Russian banks for prevention of money laundering and terrorism financing.