February 27, 2024

Russia will classify cryptocurrency transactions as suspicious

Russia will classify cryptocurrency transactions as suspicious

On February 17, the Central Bank of Russia published a new set of rules defining suspicious transactions. UpdatedThe law classifies any cryptocurrency transactions as potential money laundering transactions.

The Bank issued Directive 375-P, whichlists all the signs of suspicious transactions related to money laundering. The original version of the law was published in 2012, and the new directive is the first update. 

The representative of the Central Bank said that changes to the legislation were made in order to “better track new suspicious schemes, taking into account the latest developments in the financial market.”

It is worth noting that, falling under the sameregulation, cash transactions must have certain characteristics in order to be classified as suspicious. At the same time, any activity on the purchase or sale of cryptocurrencies can be identified as a “suspicious money laundering transaction”.

Representatives of the Central Bank noted that the bill is not yet final and can be supplemented. 

Recall that at the end of last year, employeesThe bank said cryptocurrencies do not pose a global threat to the country's financial stability. Nevertheless, the deputy head of the Central Bank Sergey Shvetsov also spoke about the need for close monitoring of the cryptocurrency market, especially in terms of its technological capabilities for money laundering and terrorist financing through digital assets.

Based on materialswww.rbc.ru