24.06.2024

Banks transfer information about crypto-transactions of clients to Rosfinmonitoring

Russian banks are already reporting on their clients’ transactions with  cryptocurrencies . Deputy Head of Rosfinmonitoring German Neglyad said this at a meeting of the State Duma Committee on the Financial Market, Vedomosti writes .

Rosfinmonitoring will strengthen surveillance at the expense of Russians. The measures are aimed at combating money laundering and financing of terrorism through cryptocurrencies.

Since the beginning of the year, the Central Bank of the Russian Federation has classified transactions with cryptocurrencies as high-risk.

As Neglyad said, banks are already reporting operations with cryptocurrencies to Rosfinmonitoring.

“Banks have already begun to pay attention to exchange operations: when they see that an operation has come after the exchange of virtual assets for hard currency, they have already begun to inform us about these operations ,” he said.

At the same time, the department intends to conduct additional control over banking operations related to cryptocurrencies, Neglyad said. However, the deputy head of the department did not specify what kind of additions we are talking about.

«Close attention» for cryptocurrencies

We will remind, earlier, President Vladimir Putin  called for  «paying close attention» to the use of «digital financial assets» by criminals.

In addition, the head of state called for «additional measures» to curb the illegal movement of «digital financial assets».

Meanwhile, the ministry says that Bitcoin (BTC) is not the only cryptocurrency used for criminal purposes in Russia. According to Neglyad , in addition to Bitcoin , Ether (ETH) and Monero (XMR) are becoming popular for criminal purposes .

The Central Bank of the Russian Federation announced  that cryptocurrencies may become a reason for blocking an account  at the beginning of the year. According to the amendments to regulation 375-P, banks can freeze or even block an account if there are signs of cryptocurrency turnover.

It is noteworthy that back in 2019, the ex-head of the Ministry of Economic Development Maxim Oreshkin  called the  banks’ practice of blocking accounts «repressive», suggesting that they simply do business on this.

CryptoQuant Explains Why Now Is The Best Time To Invest In Bitcoin

The CEO of the analytical platform CryptoQuant, Ki Yong Joo,  believes that it is time to «go all-in» on investments in the main cryptocurrency . As an argument, the analyst cites a metric that indicates a sharp decline in stablecoins stored on crypto-exchanges in relation to the bitcoins available on the platforms.

Ki Yong Joo is confident that this indicates the readiness of bitcoin and altcoins for the next stage of growth, writes RBC Crypto .

Ki Yong Joo also claims that fewer people are selling stablecoins , and more and more people are purchasing them for fiat money to buy cryptocurrencies. The head of CryptoQuant sees this as an optimistic signal for investors.

Last week, Ki Yong Joo  pointed to an indicator that he said allows you to buy bitcoin at the “global bottom” price. He named a way to buy the main cryptocurrency at a minimum cost during a pullback.

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