Head of Investigative Committee Calls for Mandatory Identification of Cryptocurrency Users in Russia

Russians who usage cryptocurrency should not beryllium anonymous, the antheral who chairs Russia’s national investigating authorization has precocious stated. The authoritative starring efforts to combat corruption successful the authorities called for further regulations, including the instauration of mandatory recognition for those who transact with integer coins.

Anti-Corruption Official Pushes for Rules to Mitigate Risks of Using Cryptocurrency for Illicit Purposes

Alexander Bastrykin, caput of the Investigative Committee of the Russian Federation, believes that radical who usage cryptocurrencies should not stay anonymous. The high-ranking authoritative shared his sentiment successful an interrogation with the government-issued Rossiyskaya Gazeta.

“I person already noted that successful transportation with the adoption of the national instrumentality ‘On Digital Financial Assets’ successful July 2020, further risks of utilizing integer currency for transgression purposes whitethorn arise, successful peculiar for financing coercion and extremism,” Bastrykin, a erstwhile Deputy Prosecutor General of Russia, told the authoritative newspaper. He elaborated:

Therefore, the circulation of integer currency requires further ineligible regularisation — archetypal of all, mandatory recognition of users of specified a currency is necessary.

The presumption of online platforms providing opportunities to bargain and merchantability cryptocurrencies anonymously is yet to beryllium determined arsenic well, Bastrykin remarked. Websites offering crypto exchange services person had a batch of troubles with Russian regulators and judiciary successful the past fewer years.

Digital coin trading is among a fig of crypto-related activities that remains extracurricular the scope of the existent authorities connected integer assets. A working group acceptable up astatine the State Duma, the little location of Russian parliament, is present preparing regulatory proposals to woody with the outstanding issues.

The Investigative Committee is Russia’s main national investigating and anti-corruption authority, subordinate to the Russian president. It is liable for combating corruption and conducting investigations into national governmental bodies, section authorities, and instrumentality enforcement agencies.

In August, President Vladimir Putin signed a decree approving the country’s National Anti-Corruption Plan for 2021-2024. As portion of the caller strategy, the Russian caput of authorities ordered respective ministries and the cardinal bank, to hole inspections of officials who are obliged to disclose their integer plus holdings.

Speaking to RIA Novosti successful December 2020, Alexander Bastrykin insisted that cryptocurrency should beryllium recognized arsenic spot for the purposes of transgression instrumentality and procedures. He emphasized this is simply a indispensable information for investigating transgression cases successful which integer currencies are involved. For example, those of bribe and embezzlement. In November 2021, the Prosecutor General’s Office of Russia proposed to specify cryptocurrency arsenic spot successful the country’s Criminal Code.

What are your thoughts connected Alexander Bastrykin’s connection to present mandatory recognition of cryptocurrency users successful Russia? Tell america successful the comments conception below.

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