Russia’s feared FSB to gain access to private keys of crypto wallets

The Federal Security Service of the Russian Federation (FSB) will have full access to the private keys of crypto wallets hosted by licensed custodians. The news comes despite opposition from Russian banks, which will be among the key participants in the country’s recently regulated market for digital assets. FSB to have round-the-clock reach to the keys of Russians’ crypto wallets FSB, the successor of the Soviet Union’s notorious KGB, will be given immediate access to the private keys of custodial wallets held by Russian citizens and firms. The Central Bank of Russia (CBR), which oversees the newly legalized industry, made the announcement following discussions with representatives of the banking sector.

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