Russia monitors transactions in cryptocurrencies

The agency Rosfinmonitoring is responsible for regulations and monitoring and now investigates cases of illegal wallets, fraud and theft in digital currency

In view of the increase of illegal acts involving cryptocurrencies, the Russian regulatory and monitoring agency Rosfinmonitoring has been charged with monitoring and blocking virtual wallets that raise suspicions.

Some of the crimes currently committed with digital currency are fraud, theft of assets, financing of terrorist acts and money laundering. The Russian authorities seek to control these acts with strict regulatory measures.

Currently, they are working on the development of an optimal system that allows them to detect and collect suspicious data from wallets linked to individuals who carry out transactions for high amounts in dollars.

The agency Rosfinmonitoring did not give details about its capacity of action in the monitoring of the wallets, because the information is classified. However, it is known that it must issue a report by the end of the year.

The country continues to apply regulations regarding cryptocurrencies. Currently, the number of accused -mainly through Facebook posts- amounts to 8,600. The authorities have closed and blocked their accounts for security measures.


Source: Diario Bitcoin

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