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The Russian government has submitted a bill to the State Duma proposing that, starting from July 1, 2026, Russian residents must report the opening and closing of offshore crypto wallets to the Federal Tax Service, along with related crypto asset transaction records.
The bill aims to include crypto assets within a regulatory framework similar to that of offshore bank accounts, requiring residents to report within one month of opening or closing a wallet. If transfers are made to offshore wallets through licensed Russian intermediaries, users will also be required to provide proof of tax declarations to the relevant authorities. (media)