{"id":8412,"date":"2023-11-02T01:47:06","date_gmt":"2023-11-02T01:47:06","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/russian-crypto-transactions-have-tripled-in-2023\/"},"modified":"2023-11-02T01:47:07","modified_gmt":"2023-11-02T01:47:07","slug":"russian-crypto-transactions-have-tripled-in-2023","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8412","title":{"rendered":"Russian Crypto Transactions \u2018Have Tripled in 2023\u2019"},"content":{"rendered":"<div>\n<figure id=\"attachment_125496\" aria-describedby=\"caption-attachment-125496\" style=\"width: 1100px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-125496\" class=\"wp-caption-text\">Source: brudertack69\/Adobe<\/figcaption><\/figure>\n<p>The Kremlin believes the number of crypto transactions conducted in Russia has risen by three times in 2023, with transfer volumes \u201cdoubling.\u201d<\/p>\n<p>The claims were made by Yuri Chikhanchin, the head of Rosfinmonitoring, in an interview with the Russian media outlet Izvestia.<\/p>\n<p>Formally known as the Federal Financial Monitoring Service, Rosfinmonitoring is a Kremlin-run agency that combats money laundering and terrorism funding in the country. Chikhanchin said:\n<\/p>\n<blockquote>\n<p>\u201cWe are seeing a significant number of transactions being conducted with cryptocurrency: The number of transactions has increased several times over the course of the year. According to our data, the number of [crypto] transactions conducted in Russia in the first nine months of the year exceeded 185,000.\u201d<\/p>\n<\/blockquote>\n<p>\nThe agency claimed that in the first nine months of 2022, it had identified 60,000 crypto transactions using its monitoring tools.<\/p>\n<p>Chikhanchin also said that Russians are now sending and receiving more crypto than ever before, conceding that \u201cthe volume of transactions\u201d had \u201calmost doubled\u201d this year.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83c\uddf7\ud83c\uddfa Russian Politicians Want to Ban Private Citizens from Mining Crypto<\/p>\n<p>A senior Russian politician has claimed that lawmakers want to bar private citizens from mining crypto \u2013 but will allow industrial miners to operate.<a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw\">#CryptoNews<\/a> <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Russia?src=hash&amp;ref_src=twsrc%5Etfw\">#Russia<\/a>https:\/\/t.co\/O50zmLC1UR<\/p>\n<p>\u2014 Cryptonews.com (@cryptonews) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/cryptonews\/status\/1719649473725362274?ref_src=twsrc%5Etfw\">November 1, 2023<\/a><\/p>\n<\/blockquote>\n<p>And he urged the government to hurry long-awaited crypto regulation that has been frozen by an impasse between the anti-crypto Central Bank and the more progressive Ministry of Finance. Chikhanchin said:\n<\/p>\n<blockquote>\n<p>\u201cOur stance is: The sooner a decision is made, the better. We already know how we will work both if cryptocurrency payments are legalized and if they are completely banned. But we need to understand the rules of the game. A decision must be made as soon as possible.\u201d<\/p>\n<\/blockquote>\n<figure id=\"attachment_125497\" aria-describedby=\"caption-attachment-125497\" style=\"width: 640px\" class=\"wp-caption alignnone\"><figcaption id=\"caption-attachment-125497\" class=\"wp-caption-text\">\u00a0Yuri Chikhanchin, the head of Rosfinmonitoring, at a meeting with Russian President Vladimir Putin. (Source: Kremlin.ru [CC-BY-SA-4.0])<\/figcaption><\/figure>\n<h2>How Does Russia Track Crypto Transactions?<\/h2>\n<p>\nChikhanchin, who was appointed as Rosfinmonitoring head in 2012, spearheaded the development of a tool that the agency claims can de-anonymize and track crypto transactions.<\/p>\n<p>Rosfinmonitoring says the tool is called Transparent Blockchain, and was co-developed with VTB, one of the country\u2019s biggest commercial banks.<\/p>\n<p>Chikhanchin stated that this tool has recently been shared with commercial banks and Russia\u2019s international allies. He said:\n<\/p>\n<blockquote>\n<p>\u201cTransparent Blockchain is currently being launched in a number of Central Asian countries. And Arab, African, and Latin American states have shown an interest. It lets banks conduct crypto-compliance. Financial organizations are beginning to use it.\u201d<\/p>\n<\/blockquote>\n<p>\nThe Rosfinmonitoring head explained that the tool \u201cmakes it possible to identify\u201d both crypto \u201csenders and recipients\u201d for \u201cmore than 30 cryptocurrencies.\u201d<\/p>\n<p>He added that the agency was joining forces with its domestic partners to \u201ccreate a unified database\u201d of \u201cgray addresses\u201d \u2013 crypto wallets belonging to suspected money launderers and criminals.<\/p>\n<p>Chikhanchin said this database currently contains details of some \u201c19,000 wallet addresses,\u201d and previously claimed the agency was monitoring around 25,000 Russian crypto holders.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/number-of-russian-crypto-transactions-has-tripled-in-2023-says-kremlin.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: brudertack69\/Adobe The Kremlin believes the number of crypto transactions conducted in Russia has risen by three times in 2023, with transfer&#8230;<\/p>\n","protected":false},"author":1,"featured_media":8413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-8412","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin 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