Russian citizens and businesses already own cryptocurrencies doing. A complete ban on cryptocurrencies would be counterproductive, according to the CEO of Rosfinmonitoring, a Russian financial intelligence agency. At the same time, regulators support banning digital coin payments and their advertising.
Rosfinmonitoring supports the government’s strategy to tightly regulate cryptocurrencies in Russia
The Federal Financial Surveillance Service of the Russian Federation (Rosfinmonitoring), the cryptocurrency is subject to the concept of regulation approved by the government, Herman Negrid, deputy director of the agency, said in an interview with Izvestia. However, the official also detailed to the Russian daily newspaper that an outright ban is unlikely:
We believe that citizens and legal entities already own digital currencies. I understand that, in such circumstances, it would be counterproductive to introduce it.
Neglyad proposed that the Russian financial watchdog would ban cryptocurrency payments and their advertising, as envisioned in a bill submitted to the lower house of the Russian parliament in November. explained that it supports He also recognizes the need to raise awareness about the nature of cryptocurrencies as risky assets.
“We believe that virtual assets and digital currencies should be legally considered property, which requires criminal recognition,” the executive said. rice field. Rosfinmonitoring added that the use of cryptocurrencies is increasing, both for payments for illegal purposes and for concealing or laundering criminal proceeds.
Financial intelligence agencies are developing a special cryptographic analysis service called “transparent blockchain.” This allows authorities to track cryptocurrency transfers and identify wallet owners. Russia’s interior ministry is already using such tools, the head of the country’s economic and security department revealed this week.
Herman Neglyad also emphasized that the activities of platforms providing virtual asset exchange, transfer and storage services should be governed through registration, licensing and supervision. He believes these entities should be responsible for identifying clients and beneficial owners, storing data, and reporting suspicious transactions to Rosfinmonitoring.
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