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Russia has begun using software to prevent cryptocurrency crimes.
Authorities will use specialized equipment to monitor suspicious cryptocurrency transactions.
Russia has begun using specialized software to prevent the criminal use of cryptocurrencies, announced Russian Prosecutor General Igor Krasnov at the plenary session of the BRICS Prosecutors' Meeting.
The growing number of crimes related to the criminal circulation of cryptocurrencies and other virtual assets is no less concerning. Special software has been developed to prevent them in our country. It is used both for financial monitoring and for criminal investigations.
The number of cryptocurrency-related court cases in Russia has increased fivefold over the past two years, reaching 2,653 in 2023.
More than half (62%) of all proceedings in 2023 were related to bankruptcy disputes. The number of civil cases increased by 60%, criminal cases by 34%, and the number of administrative cases also increased by 19%.
Russian user activity in the cryptoasset market has increased, according to the Bank of Russia's financial stability report for the fourth quarter of 2023 – first quarter of 2024.
According to the report, over the two quarters, total web traffic from Russian users on the websites of the largest crypto exchanges, p2p platforms, and exchangers increased by 16% compared to the second and third quarters of 2023.
The bank estimates that the volume of cryptocurrency transactions potentially attributable to Russians grew to 4.5 trillion rubles over the same period.
Authorities will use specialized equipment to monitor suspicious cryptocurrency transactions.
Russia has begun using specialized software to prevent the criminal use of cryptocurrencies, announced Russian Prosecutor General Igor Krasnov at the plenary session of the BRICS Prosecutors' Meeting.
The growing number of crimes related to the criminal circulation of cryptocurrencies and other virtual assets is no less concerning. Special software has been developed to prevent them in our country. It is used both for financial monitoring and for criminal investigations.
The number of cryptocurrency-related court cases in Russia has increased fivefold over the past two years, reaching 2,653 in 2023.
More than half (62%) of all proceedings in 2023 were related to bankruptcy disputes. The number of civil cases increased by 60%, criminal cases by 34%, and the number of administrative cases also increased by 19%.
Russian user activity in the cryptoasset market has increased, according to the Bank of Russia's financial stability report for the fourth quarter of 2023 – first quarter of 2024.
According to the report, over the two quarters, total web traffic from Russian users on the websites of the largest crypto exchanges, p2p platforms, and exchangers increased by 16% compared to the second and third quarters of 2023.
The bank estimates that the volume of cryptocurrency transactions potentially attributable to Russians grew to 4.5 trillion rubles over the same period.