Russian Bankers Reportedly Trying to Criminalize Non-Custodial Cryptocurrency Wallets

The Association of Russian Banks, a prominent local banking association founded in 1990, covers about 90 percent of Russia's banking infrastructure by early 2022. The world's largest cryptocurrency exchange, Cryptocurrency, joined the association in February, with Olga Goncharova, Cryptocurrency's head of government relations in Russia and the CIS (CIS), leading the group's /p>

The announcement comes as global regulators pay more attention to non-custodial wallets.

In late March, the European Parliament's Economic and Monetary Affairs Committee voted in favor of regulatory reforms that could jeopardize the ability of exchanges to handle uncustodied crypto wallets. After law enforcement reportedly froze the crypto assets of COVID-19 protesters, Canadian regulators took note of tweets from Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powel asking users to take their bitcoins off the exchange and put them into self-hosted wallets.