According to BBC News Russia, from 29 August th the Russian Financial Monitoring Service decided that they would create a new system that would track down the advances of the cryptocurrency. Generally, this entity is responsible for the fight against financial fraud and the management of finances for terrorism The new technology, once implemented, would help researchers discover potential connections between separate financial crimes, especially those involving cryptocurrency.
The plan is to launch this application in the monitoring system by the end of 2018. At present, the database contains an assortment of information, which makes it difficult to find a model and restrict the field t look for a single cyber criminal or other.
C & # 39; was a local competition to find the best monitoring program for the specific needs of the group, and the honor was finally awarded to the Institute for Security and information analysis (SPI)) . This company is headquartered in Moscow and has been responsible for the development of iRule software, which the Monitoring Service currently uses in its work. To further support their experience with this type of work, their technology has also been used by security forces and insurance companies in Russia.
The public document reveals that this new contract is currently worth 195.5 million rubles ($ 2.9 million), and specifically monitors the way in which funds are transferred to and within Exterior of digital wallets. With a few buttons, the tool allows the government to look up someone's name, bank account number, credit card numbers, digital wallet numbers and mobile numbers. It is specifically aimed at collecting information on cryptocurrency transactions, with a specific attraction for Bitcoin.
In particular, the Federal Financial Monitoring Service of Russia has been highly critical of the entire cryptocurrency industry, which is probably why they are so aggressive now. Also in 2014, the regulations suggested that any interaction that someone has with cryptocurrency would be sufficient to consider it illegal, violating multiple laws.
The German Klimenko, who was formerly the adviser to Vladimir Putin, spoke with the BBC to clarify their updated approach to cryptocurrency. Their opinion has not yet evolved into something more positive, since Klimenko states,
"Because of the anonymity and the inability to find sources of transactions, cryptocurrencies are used in a & # 39, gray area, for example, in the Darkweb to buy weapons, drugs or violent videos The legislators of many countries are worried about this phenomenon that was confirmed by the analysis conducted on behalf of the president [Vladimir Putin]. " The first reading of the initiative aimed at establishing something more regulated for cryptocurrency was announced in May. The Committee on Legislative Work of the Russian State Duma has already supported these initiatives.