FSB Seeks to Obtain Access to Client Data from Crypto Exchanges

cryptonews.ruPublished on 2026-08-04Last updated on 2026-08-04

Abstract

The Russian Federal Security Service (FSB) intends to compel cryptocurrency exchanges to provide client data access, similar to requirements for major banks and telecom operators. This information was revealed in a May presentation by an FSB official, as recently reported by The Bell. The FSB reportedly wants exchanges to install SORM surveillance equipment, enabling real-time, 24/7 remote monitoring of internet traffic, user metadata, payments, and social media links. In 2022, the FSB sought client data from exchanges without mandatory SORM installation but now considers them functionally akin to social networks and gaming platforms. Penalties for refusing SORM installation have increased to fines up to 10 million rubles. Furthermore, Roskomnadzor, the communications regulator, has stopped issuing or renewing licenses for telecom operators that fail to coordinate installation plans with the FSB. Previously, the FSB also proposed investigating illegal cryptocurrency transactions to shut down underground crypto exchanges, citing their potential use by criminals for money laundering.

This was discussed during a May presentation by FSB official representative Alexander Samoilov at the Conference of Russian Communication Operators (KROS). The publication The Bell, recognized by the Russian Ministry of Justice as a foreign agent, only recently drew attention to this presentation.

Using SORM, special services can obtain round-the-clock remote access to user information. The system allows for real-time monitoring and analysis of internet traffic, storage of user metadata and materials, as well as linking IP addresses, logins, social media pages, and payment data.

In 2022, the FSB already proposed obligating crypto exchanges to transfer client data, but without mandatory SORM installation. Judging by the presentation, the agency considers crypto exchanges and gaming platforms functionally similar to social networks. At the same time, the security forces want the proposed requirements to be complied with by the largest banks, which are already obligated to install SORM and provide access to client data.

In June, the maximum fine for refusal to install SORM equipment was increased to 10 million rubles. Roskomnadzor has stopped issuing and renewing communication licenses to communication operators who have not coordinated a plan for installing this system with the FSB.

Earlier, in the Russian Public Chamber, the FSB was proposed to investigate illegal cryptocurrency transactions in order to stop the underground operation of crypto exchanges. Such services can be used by fraudsters to legalize funds obtained through criminal means, explain government representatives their logic.

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Related Questions

QWhat agency wants to gain access to client data from crypto exchanges, and how did this information come to light?

AThe Russian Federal Security Service (FSB) wants this access. The information came to light from a May presentation by FSB official Alexander Samoilov at the Conference of Russian Communications Operators (KROS), which was recently noticed by the publication The Bell.

QWhat is SORM, and what capabilities does it provide to Russian security services?

ASORM is a system that allows Russian security services to obtain round-the-clock remote access to user information. It enables real-time monitoring and analysis of internet traffic, storage of user metadata and materials, and the linking of IP addresses, logins, social media pages, and payment data.

QHow does the FSB's current proposal regarding crypto exchanges differ from its 2022 suggestion?

AIn 2022, the FSB proposed obliging crypto exchanges to hand over client data but without mandatory installation of the SORM system. The current presentation suggests they now want crypto exchanges to install SORM, similar to the requirements for major banks.

QWhat are the consequences for Russian operators who refuse to install SORM equipment?

AThe maximum fine for refusing to install SORM equipment was increased to 10 million rubles in June. Furthermore, Roskomnadzor (Russia's communications regulator) has stopped issuing and renewing communications licenses for operators who have not coordinated an installation plan with the FSB.

QWhy have Russian authorities, according to the article, proposed investigating illegal cryptocurrency transactions?

AAuthorities propose investigating illegal crypto transactions to shut down the underground operation of crypto exchange services. They argue that such services can be used by fraudsters to launder money obtained through criminal means.

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