Published
10/05/2025, 14:16The Cabinet of Ministers adopted a resolution introducing new rules for the cryptocurrency market. In particular, virtual asset service providers are now required not only to identify their customers, but also to verify their understanding of the risks associated with digital assets.
Now, when registering on a crypto exchange, customers must undergo AML/KYT testing, as well as an identity verification procedure. But that's not all: exchanges are required to conduct special tests to ensure that customers understand the risks associated with virtual asset transactions.
In fact, this brings the crypto market closer to the standards of traditional financial institutions, where investors are warned about possible risks.
According to the authorities, such measures will protect citizens from rash actions and at the same time complicate the lives of those who try to use cryptocurrency for dubious operations — from money laundering to circumventing sanctions.
In addition to customer testing, the decree prohibits the use of anonymous wallets, NFTs, and prepaid foreign cards, and requires companies to keep documents for at least five years and undergo annual audits.
Also, directors, accountants, and compliance officers of crypto companies must be approved by the regulator and have no connection to sanctions lists.
