New Rules Published in Russia for Crypto Money Laundering

18-Feb-2020

A new set of published the rules have been released for suspicious transactions by the Central Bank of Russia. Announced earlier this week, the update giving of a vague category to any cryptocurrency-related transaction as potential money laundering risk. A new set of published rules have been released for suspicious transactions by the Central Bank of Russia. This was announced earlier this week, with the update giving of a vague category to any cryptocurrency related transaction as potential money laundering risk. On top of this, the bank issued an update to ‘directive 375-P’, which highlights all the signs of suspicious activity that could be linked with money-laundering. This is the first kind of update since 2012 when the initial regulations were brought in. A representative for the central bank said the following, in that it was done to “add new schemes of conducting unusual operations, with consideration to the modern developments in financial markets.” Risky Does this beg the question are cryptocurrencies a risk? The argument has always been made since it was created in 2008 but if you’re clever with your money and digital assets, cryptocurrencies aren’t that much of a risk. That being said it’s always wise to do your research on investing in a new cryptocurrency. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe! It has been previously stated by the central banks head that the number of risk factors should be decreased over time.  It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily! read more

Robert Johnson