2 Things Banks Check in 115-FZ
45sDirectly reveals the two critical checks (source of funds and economic sense) that banks use, which is highly relevant and sought-after information for crypto users.
▶ Play ClipAI Summary
The video explains the two key checks performed under Russia's Federal Law No. 115-FZ when banks or exchanges review cryptocurrency transactions: the source of funds and the economic sense of the operation. The speaker emphasizes that verified exchange account screenshots serve as proof of the transaction's legitimacy.
[00:00]
Source of funds check
The first thing checked is the origin of the money used to enter crypto, ensuring the person is not a fraudster or money launderer.
[00:14]
Economic sense check
The second check is the economic sense of the transaction, which is confirmed by exchange screenshots showing a verified account and a sell order.
[00:28]
Screenshots as proof
Screenshots from the exchange confirm the economic sense by showing that crypto left or entered the account, depending on whether it was bought or sold.
To pass 115-FZ checks, users must demonstrate both a legitimate source of funds and a clear economic rationale for their crypto transactions, with exchange screenshots serving as key evidence.
Study Flashcards (2)
What are the two main checks under Federal Law No. 115-FZ?
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What are the two main checks under Federal Law No. 115-FZ?
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The source of funds and the economic sense of the transaction.
How can a user prove the economic sense of a crypto transaction?
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How can a user prove the economic sense of a crypto transaction?
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By providing exchange screenshots showing a verified account and a sell order.
00:14
💡 Key Takeaways
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Source of funds is the first check
Establishes the primary criterion for compliance with 115-FZ, focusing on legitimacy of funds.
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Economic sense is the second check
Highlights the need for a clear business rationale behind crypto operations.
00:14
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Screenshots serve as proof
Practical tip: verified exchange screenshots are the evidence that satisfies the economic sense requirement.
00:28Full Transcript
[00:00] Первое, это источник происхождения денежных средств, что у меня вообще были какие-то бабки для того, чтобы входить в крипту, а не голодранец условно или еще что-то. Не мошенник, ничего не нужно. Да, и так далее. Я не использую банк для прогона, для отмывания.
[00:14] И второе, это экономический смысл. Эти две основные вещи проверяют, когда нам ставят 115-й федеральный закон. скриншоты с биржи подтверждает экономический смысл потому что мы таким образом показывая подтверждая
[00:28] что наш верифицированный аккаунт мы делали ордер на продажу вот он пожалуйста вот крипто у меня с аккаунта вышла или криптовалю в аккаунт вошла в случае если я ее купил или или ну или я ее продал
