Key facts
- Russia's comprehensive AML crypto bill is delayed to September 1, 2026.
- The Russian bill will grant Rosfinmonitoring broad oversight of digital asset transactions.
- Specific reporting requirements are mandated for transactions above 60,000 RUB and cross-border deals over 1 million RUB.
- The U.S. CLARITY Act is progressing with bipartisan support and a new version anticipated.
- The CLARITY Act aims to distinguish crypto securities from commodities and offer safe harbors for DeFi developers.
Russia has postponed its comprehensive anti-money laundering (AML) cryptocurrency legislation until September 1, 2026. The bill, originally slated for July 1 implementation, will grant the Russian Federal Financial Monitoring Service (Rosfinmonitoring) extensive oversight of all digital asset activities within the country. Specific reporting requirements will be enforced for transactions exceeding 60,000 RUB (approximately $760), including details on payers, payees, wallet addresses, and tax IDs. Cross-border transactions over 1 million RUB (approximately $12,700) will face enhanced reporting. Additionally, Russia's Central Bank will cap digital assets in banking groups at 1% and gain powers to restrict or ban crypto transactions.
In contrast, the United States is seeing renewed momentum for its Digital Asset Market Clarity Act (CLARITY Act). Sources indicate a new version of the bill will be submitted soon, with bipartisan support growing. Senator Cynthia Lummis stressed the urgency of the CLARITY Act, calling it developers' "last chance" before 2030. Galaxy CEO Novogratz echoed this sentiment, describing it as a "now or never" moment. The Senate Banking Committee previously approved the bill with a 15-9 vote, and Treasury Secretary Scott Bessent is actively encouraging its swift passage. Senator Tim Scott believes the CLARITY Act could unlock a $30 trillion crypto market, underscoring the importance of regulatory clarity for institutional investment. Ripple has also initiated a campaign to advance the legislation.