Bank of Russia: Restrictions on non-custodial crypto wallet usage do not apply to international settlements

October 29, according to TASS, Vladimir Chistyukhin, First Deputy Governor of the Bank of Russia, stated that the restrictions on the use of non-custodial wallets in Russia's proposed cryptocurrency bill do not apply to international settlements, and non-custodial wallets are still permitted in such scenarios. Chistyukhin noted that during the legislative process, the possibility of Russian investors using non-custodial wallets was discussed, and the final decision was not to allow investors to directly use such wallets for investment, in order to reduce anti-money laundering risks and strengthen regulation. Users can still transfer crypto assets from custodial wallets within Russia to custodial wallets in overseas infrastructure, and then to non-custodial wallets.