Opposition press links Russian lawmaker to local crypto OTC

A Russian legislator who was 1 of the authors of the measure to legalize cryptocurrency mining successful the state has been tied to a section over-the-counter (OTC) speech known arsenic Bankoff.

Russian absorption activistic Mikhail Khodorkovsky linked Bankoff OTC to lawmaker Andrei Lugovoi successful an nonfiction of London-based investigative task Dossier Center connected Dec. 19.

The 6,000-word nonfiction was accompanied by a video titled “Crypto-Kremlin: How the authorities launder Bitcoin,” released connected Khodorkovksy’s Live YouTube channel.

According to Dossier, Bankoff is the astir progressive peer-to-peer trader utilizing Russian rubles connected the large planetary crypto speech Binance. As antecedently reported, Binance continued to service non-sanctioned Russians contempt the European Union banning each crypto transactions for Russia successful October. The Bankoff OTC level accepts lone currency from customers and has astir nary Anti-Money Laundering oregon Know Your Customer controls.

Как думаете, кто может контролировать криптообменник, который приносит миллионы долларов в год? Естественно, тот, кто сидит в Госдуме и занимается регулированием крипты. В треде — всё самое важное о новом расследовании.https://t.co/ndd62kxy3n

— Центр «Досье» - право на справедливость (@dossier_center) December 19, 2022

The trader's bureau is reportedly connected the 65th level of a gathering successful the Moscow City skyscraper district. The premises beryllium to the Bratsk Electricity Network, a institution that distributes energy astir the east-central Russian metropolis of Bratsk, which is simply a center of cryptocurrency mining.

According to Dossier, Bankoff could marque up to $20,000 regular connected up to 4% successful commissions connected users’ crypto transactions. Lugovoi’s woman Ksenia Lugovaya has reportedly besides owned a stock successful Bratsk Electricity Network since 2018. A declaration filed by her hubby and purportedly shown successful the Dossier video indicates that Lugovaya had an income of 29.6 cardinal rubles, oregon a small much than $400,000, successful 2021 with nary sources of income different than the Bratsk electrical company.

The Dossier nonfiction and video besides picture however a typical of Dossier was allegedly capable to person 100,000 rubles ($1,400) successful Tether (USDT) utilizing the sanctioned Russian crypto speech Garantex. The typical was reportedly capable to nonstop USDT from Garantex to Binance and past successfully transportation to an relationship successful the United Kingdom-based fintech Wise, frankincense enabling the organisation of that wealth contempt sanctions from the United States.

Such a strategy not lone allows the Russian authorities officials to debar sanctions, but besides generates wealth for them, the talker successful the video argued, stating:

“That doesn’t impede Russian officials and members of the information forces from utilizing cryptocurrency not lone to instrumentality millions retired of the country, but besides to marque wealth from doing it. People who are nether the adjacent attraction of instrumentality enforcement agencies worldwide person agelong been tied to this.”

While seemingly benefitting from crypto themselves, Russian lawmakers person been actively opposing the thought of crypto concern by regular people. The Russian authorities has not legalized immoderate section cryptocurrency exchange, portion the cardinal slope has taken a steadfast stance against crypto investment.

Related: Putin calls for blockchain-based planetary outgo system

Apart from backing 1 of the biggest crypto OTC platforms successful Russia, Lugovoi is known for processing section cryptocurrency laws. He is 1 of the authors of the cryptocurrency mining measure introduced into Russia’s little location of parliament connected Nov. 17. Lugovoi began his governmental vocation aft helium was implicated successful the poisoning of erstwhile Russian information work serviceman Alexander Litvinenko successful the U.K. successful 2006.

Additional reporting by Helen Partz.