Russia Grants FSB Round The Clock Access To Domestic Crypto Wallets

Russia will grant the Federal Security Service (FSB) round-the-clock access to the private keys of crypto wallets managed by licensed custodians, despite objections from the country’s major banks.

The Central Bank of Russia rejected a proposal from the country’s banking association to prevent the security agency from accessing wallet keys and signing tools. It also refused to delay implementation of the measures until 2028.

Starting March 1, 2027, cryptocurrency exchanges, intermediaries, and custodians will be required to provide the FSB with permanent remote access to stored data, including messages, images, videos, and customer records.

Access will be provided through SORM, the surveillance system used by Russian authorities to obtain information from digital service providers.

The regulations will also require exchanges and custodians to reject transfers that do not identify the sender and recipient.

Russia recently legalized cryptocurrency trading through authorized intermediaries. The central bank has already licensed approximately 24 platforms, including major financial institutions.

Self-custody wallets are effectively excluded from the domestic market, although their owners can transfer funds to licensed custodians or use them for international payments.

Crypto platforms registered in Russia must join the self-regulatory association designated by the central bank before January 27, 2027.

Source: CBR

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