Is it permitted to hold cryptocurrency wallets anonymously?
Territorial jurisdiction:
Russia
Short answer:
There is no prohibition on anonymous ownership of cryptocurrency wallets; however, in practice, this is nearly impossible.
Denis Polyakov
Head of Digital Economy practice at GMT Legal
Russian legislation does not explicitly prohibit the ownership of anonymous cryptocurrency wallets; however, in practice, maintaining complete anonymity is becoming increasingly difficult — especially if the wallet is used for transactions involving exchanges, exchange services, or income generation. Most major cryptocurrency exchanges and exchange services require completion of KYC procedures (identity verification), which effectively links the wallet to the user. If the wallet is used solely for storage and does not participate in transactions that reveal personal identity, no formal violation of the law occurs. However, it is important to consider that if cryptocurrency from such a wallet is used in transactions subject to tax regulation or financial monitoring, the owner may be obliged to disclose information about the wallet, sources of funds, and asset movement. Therefore, anonymous ownership is permissible only within the limits that do not violate other regulations — including tax, currency control, and criminal law.