Crypto exchanges should share user data with authorities, Russia’s top prosecutor insists.
Digital asset exchanges must be obliged to provide user information to Russia’s law enforcement agencies, the country’s Prosecutor General has insisted. The circulation of cryptocurrencies in the Russian Federation needs to be regulated to counter money laundering, the official added.
, the top prosecutor further explained that the difficult geopolitical situation increases the risks of exploiting vulnerabilities associated with digital assets. Crypto assets and related transactions are yet to be comprehensively regulated in Russia where lawmakers and other officials are still considering their approach. Most government institutions favor a restrictive regime preventing their free circulation while legalizing some activities such as mining as well as payments in cross-border settlements and trading under special legal regimes.
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