Some big news coming from Russia is that the Russian Authorities have initiated 20 criminal cases linked to Crypto Assets, according to reports the Federal Financing Monitoring Service of Russia (Rosfi monitoring), according to the agency's director Yury Chikhanchin they are trying to unravel cryptocurrency cases which are said to be around 400, this are revelations which he disclosed to President Vladimir Putin. It's understood that the Federal Financing Monitoring Service has been working together with the Ministry of Internal Affairs (MVD) as well as the Federal Security Service (FSB).
According to director Yury Chikhanchin he also gave some good news to President Vladimir Putin that the Law Enforcement agencies managed to successfully make at least 20 criminal cases that are related to digital assets. Director Yury Chikhanchin also revealed that there are Russian Citizens who are actively involved in the usage of cryptocurrency platforms, and some of which are based outside their country and these are transactions which are worth tens of billions.
Director Chikhanchin is also conceived that some of these settlements or cryptocurrency investments are not honest, some are transfers which are related to crime. Reports have also indicated that there has been an increase of Court cases on Russia concerning alleged cryptocurrency crimes or crypto mining, and according to authorities they found that 62% of them were criminal cases, most of which were related to drug trafficking.
In Russia cryptocurrency is not yet regulated, they are yet to regulate this space with a law on digital currency, and the government is expected to make some final decision concerning how the sector which has been dominated by Bitcoin and Ethereum (the crypto currency market) how it can be managed of regulated.
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