Russia: New Rules Tighten the Central Banks Control Over Payments

By Tom Hazan10 days ago

Back on August 26th, 2019, the Russian Federation Ministry of Finance finalized a series of new regulations, effectively banning international companies from conducting online operations in the Russian market without a Russian entity, or without having domestic representation.

However, these regulations were never enforced. Following a lengthy period of grace without pro-active enforcement, the new policy has been enforced starting mid-April 2021 and many Russian-facing CFD and Forex

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operations, previously working with major Russian banks either directly or through popular gateways (such as Platron.ru and others), were suddenly in need of new legal and payments solutions.

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