Russia’s cryptocurrency turnover is increasing, regulator tells Putin.
The agency, Rosfinmonitoring, is following thousands of participants in digital asset transactions with a new blockchain analytics system, the official revealed.The turnover of crypto assets in Russia is growing, according to Yury Chikhanchin, director of the Federal Financial Monitoring Service of the Russian Federation , who reported to President Vladimir Putin about the agency’s current operations.
Quoted by the business news portal RBC, Putin remarked that wherever money or new financial instruments appear, “swindlers” appear as well. Chikhanchin admitted that the use of cryptocurrency is increasing in Russia in the absence of comprehensive regulation. Rosfinmonitoring has carried out about 120 crypto-related investigations and initiated over 60 criminal cases. Chikhanchin pointed out that this was possible thanks to the launch of Russia’s new ‘Transparent Blockchain’ platform.
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