Russia's central bank backs FSB access to private keys and customer data from licensed custodial wallets
Russia’s feared FSB to gain access to private keys of crypto wallets
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Russia's central bank said the FSB will have immediate access to the private keys of crypto wallets held by Russian residents and businesses with licensed custodians. From March 1, 2027, crypto exchanges, brokers, and digital custody platforms will also be required to provide remote 24/7 data access, including customer communications and other records. Holding and using crypto assets in Russia must be conducted through approved service providers. Personal self-custody wallets are effectively prohibited in the domestic market, but may be used for cross-border payments.
Russia's new rules bring access to the private keys and customer data of licensed custodial wallets under the remote oversight of national security agencies, while also tightening the use of personal wallets in the domestic market.
Source:Cryptopolitan · cryptopolitan.com