Xavier Gargan V1o8

#RussiaBansNonCustodialCryptoWallets *Russia is moving to ban/restrict non-custodial crypto wallets* - wallets where you control your own private keys, like MetaMask, Trust Wallet, Ledger. *1. What exactly is Russia doing?* As of 2025-2026, Russia hasn't issued a total ban yet, but: 1. *March 2024*: Bank of Russia proposed banning crypto transactions between residents, targeting P2P + non-custodial wallets 2. *April 2026*: New draft law would criminalize "organizing circulation" of crypto. Using non-custodial wallets for payments could mean jail time 3. *Rosfinmonitoring* wants to deanonymize all crypto. They're building "Transparent Blockchain" to track non-custodial wallet flows Custodial wallets on licensed exchanges like local VTB/Rostec platforms would still be allowed. *2. Russia's stated reasons:* **Official Reason** **What they mean** **Anti-money laundering** Can't track non-custodial = can't see if funds are from crime 4. *Surveillance*: Rosfinmonitoring's "Transparent Blockchain" can flag wallets but can't freeze them unless custodial. *4. What this means for users:* *Targeted/banned*: - Sending crypto P2P from MetaMask/Ledger to another person - Paying for goods with non-custodial wallets *Penalty proposed*: Up to 7 years jail for "illegal crypto circulation" *5. Context: Russia's crypto stance* Russia is schizophrenic on crypto: - *Ban for citizens*: Don't want retail using it instead of ruble - *Allow for state/business*: Using USDT/BTC for oil + imports to bypass sanctions since 2022 So non-custodial ban = "we can use crypto, but you can't". *Bottom line*: Russia wants crypto transactions to happen only through licensed, KYC, custodial platforms where the state can monitor, tax, and freeze funds. Non-custodial = no surveillance = banned.