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A bill increasing the threshold for identification of individuals for currency exchange transactions was adopted in the last reading.
DATE: June 16, 2016 | AUTHOR: atlawyers
A bill increasing the threshold for identification of individuals for currency exchange transactions was adopted in the last reading. Individuals will not be obliged to provide their passport and other identification documents for exchanging currency in the amount up to 40 000 RUR (about 544 EUR), while today this threshold is15 000 RUR (about 204 EUR). In addition, the amendments provide for a simplified identification system of individuals exchanging currency amounting up to 100 000 RUR (about 1359 EUR).