Vladimir Putin: "We need to stop illegal transactions with digital assets" – Bits Media

Russian President Vladimir Putin instructed the Russian Prosecutor General's Office and Rosfinmonitoring to take measures to prevent illegal international transactions with digital financial assets (CFA).

Putin said this at an expanded meeting of the board of the General Prosecutor's Office of the Russian Federation while summing up the work results of the department over the past year. Putin instructed the Federal Service for Financial Monitoring of the Russian Federation (Rosfinmonitoring) pay special attention to the illegal "cross -border movement" of the Tsf. The president explained, that digital currencies began to be increasingly used for criminal purposes, and the prevention of illegal transactions from the CFA is one of the key tasks, aimed at ensuring the law enforcement in the state.

Law "On digital financial assets (CFA) and digital currency "entered into force with 1 january 2021 of the year. According to this law, cryptocurrencies are prohibited from using in Russia as a payment fund, Moreover, they are considered property. Mining, ownership and trading of cryptocurrencies are not prohibited, but specific legislative acts on their regulation have not yet appeared. At the end of last year, the Committee on TsFA and Digital Currency was created in Russia, who agrees on issues, related to taxation of cryptocurrencies, and also regulates the industry of blockchain and digital currencies in the country.

Last month, the director of Rosfinmonitoring Yuri Chikhanchin announced the development of the Transparent Blockchain service, which is designed to track transactions with cryptocurrencies. Criteria are being developed, allowing to identify suspicious transactions. However, Chikhanchin never reported, What blockchains the service interacts with.