Russian Central Bank Links Crypto Transactions With Money Laundering



On February 17, The central bank of Russia (CBR) has released a new set of rules that categorizes any transaction involving cryptocurrency as potential risk for money laundering. This kind of update was released again after the last one in 2012, and it highlights suspicious activities that have links with money laundering. The head of CBR has previously noted that identifying suspicious transactions is one of the ways of reducing risks associated with money laundering. He said, whenever a bank detects suspicion with any transaction, it may freeze the account or shut it down completely. The regulators said that any activity involving buying and selling of cryptocurrency has a risk potential for money laundering. This has further strengthened the actions of the Russian Legislators to amend the digital asset law proposed in 2018.