Use of cryptocurrencies is increasing in Russia, the head of the country’s financial watchdog has informed President Putin. The agency, Rosfinmonitoring, is following thousands of participants in digital asset transactions with a new blockchain analytics system, the official revealed.
Volume of Crypto Transactions in Russia Almost $13 Billion, Financial Authority Says
The turnover of crypto assets in Russia is growing, according to Yury Chikhanchin, director of the Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring), who reported to President Vladimir Putin about the agency’s current operations.
The watchdog is monitoring the activities of over 25,000 participants in crypto transactions, the executive revealed at a meeting with the head of state. The service has also identified around a dozen financial organizations that provide assistance to them.
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…