Russia’s Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible

October 17, 2024 Bitcoin.com

Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing previous concerns and stressed that no significant deficiencies exist that would justify Russia’s inclusion on the FATF blacklist, […]

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Bank of Russia and Rosfinmonitoring Reveal Fiat-to-Crypto Tracking System Pilot

April 26, 2024 Bitcoin.com

Bank of Russia

The Bank of Russia and Rosfinmonitoring revealed the existence of a ‘know your crypto customer’ system pilot, that aims to link the fiat operations of crypto users with their blockchain actions. The pilot, which has been ongoing since 2023, involves five banks in Russia and is expected to run until April, but can be extended. […]

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Russia’s FATF Rating Downgraded Over Crypto Regulation Shortfalls

March 1, 2024 Bitcoin.com

bitcoin.com

The Financial Action Task Force (FATF) has lowered Russia’s rating owing to insufficient oversight of cryptocurrencies, as indicated by regional coverage. According to RBC, this downgrade highlights escalating worries about the country’s capacity to oversee and mitigate dubious transactions within the rapidly expanding realm of digital finance. Russia’s Financial Strategy Challenged by FATF Downgrade The […]

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Cryptocurrency Turnover Growing in Russia, Watchdog Reports to Putin

March 12, 2023 Bitcoin.com

agency

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 […]

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Full Ban on Crypto in Russia Would Be Counterproductive, Rosfinmonitoring Says

December 11, 2022 Bitcoin.com

agency

Russian citizens and businesses already own cryptocurrencies, which is why a complete crypto ban would be counterproductive, according to a top executive of Rosfinmonitoring, Russia’s financial intelligence agency. At the same time, the regulator supports prohibiting payments with digital coins and their advertising. Rosfinmonitoring Backs Government’s Strategy to Strictly Regulate Cryptocurrencies in Russia The Federal […]

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Russia Starts Developing Mechanism for International Crypto Payments

September 25, 2022 Bitcoin.com

agency

Financial authorities in Russia have begun work on a mechanism to facilitate the employment of cryptocurrencies for settlements with other nations amid sanctions. The country’s central bank and finance ministry have already agreed on a draft law regulating cross-border crypto payments. Regulators in Russia Move Toward Legalizing Use of Cryptocurrency in Foreign Trade Russian authorities […]

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Crypto Payments Are Acceptable in Foreign Trade, Russia’s Financial Watchdog Says

July 10, 2022 Bitcoin.com

agency

Russian financial watchdog Rosfinmonitoring is ready to accept the use of cryptocurrencies in international settlements, the head of the agency, Yuri Chikhanchin, has indicated. The statement adds to growing support for the legalization of international crypto payments in Russia amid financial restrictions imposed over its invasion of Ukraine. Top Financial Regulator in Russia Welcomes International […]

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Report Says Binance Shared Client Data With Russia, Crypto Exchange Denies Allegations

April 23, 2022 Bitcoin.com

Accusations

Cryptocurrency exchange Binance has been accused in a media report of agreeing to provide user data to Russia’s financial watchdog. The trading platform has refuted the allegations. It also insists it’s complying with Western sanctions imposed over Moscow’s invasion of neighboring Ukraine. Binance Consented to Russian Request for Customer Info, Reuters Claims in ‘Special Report’ […]

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Major Crypto Exchanges Ready to Work in Russia Under Proposed Rules, Report

February 3, 2022 Bitcoin.com

Ban

Leading exchanges, polled by the Russian press, have indicated they are not afraid of the upcoming strict crypto regulations. A requirement for coin trading platforms to establish a local office is one of the proposals in a regulatory roadmap drafted by the government in Moscow. Cryptocurrency Exchanges to Set Up Shop in Russian Federation Some […]

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Russian Government Drafts Roadmap to Regulate, Not Ban Crypto, Report Unveils

January 29, 2022 Bitcoin.com

Ban

A roadmap on cryptocurrencies has been prepared by a number of ministries, regulatory bodies, and law enforcement agencies, Russian media reported. The document, which aims to regulate Russia’s crypto market by the end of this year, comes amid disagreements between the central bank and other government institutions about the future of decentralized digital money in […]

Rosfinmonitoring

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