- Russian anti-money laundering body to crack down on virtual asset owners
- Vladimir Putin concerned with increased crypto involvement in crime
- Russia attempting to regulate cryptocurrency since a long time
In a recent meeting of the State Duma Committee, Herman Neglyad stated that Rosfinmonitoring will be keeping a check on crypto to ruble exchanges.
The financial surveillance organization, where Neglyad is a deputy, generally focuses on money-laundering issues but will now be keeping stricter controls of cryptocurrency as well.
The comment comes following Vladimir Putin’s concerns about “illegal cross-border transfers of cryptocurrencies”. The Russian president stated that criminal activity involving cryptocurrencies was on a rise, and “this justified increased monitoring”.
Neglyad further mentioned that banks were already cooperating with Rosfinmonitoring and were keeping track of any crypto to fiat exchanges.
“Banks are already taking notice of such exchange operations, meaning that when they see the money coming in after trading virtual assets for hard currency, they calculate the value and notify us,” he quoted.
Working alongside Russia’s c...
This article was first published on coinquora.com
