The Banks Association of Russia (ADB), together with representatives of the Ministry of Finance, discussed the upcoming bill on the regulation of cryptocurrencies. This was reported in the press service of the organization.

The meeting discussed the need to create an area of ​​responsibility for banks and market participants in order to create a level playing field for their work with digital currencies.

“One of the aspects of risk for credit institutions is confirmation of the origin of funds received as a result of the sale of cryptocurrencies,” ADB said.

Now the organization will hold a meeting with the Central Bank of the Russian Federation and Rosfinmonitoring to discuss customer identity and ensure transparency of the source of funds when selling cryptocurrencies.

Recall that the draft law “On Digital Currency” provides for transactions with crypto assets through Russian banks, identification of holders of crypto wallets and separation of investors by qualifications.

According to media reports, the Ministry of Finance has finalized the bill that stipulates the obligation of bitcoin exchanges and exchangers to cooperate with law enforcement and keep information about users and their operations for three years.