Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Russia’s Central Bank and Rosfinmonitoring unveil pilot of fiat-to-crypto tracking system

Russia’s Central Bank and Rosfinmonitoring unveil pilot of fiat-to-crypto tracking system

Cointime2024/04/27 09:43
By: Cointime
BTC+0.09%

According to reports, since 2023, Russia has been trying to track cryptocurrency transactions and their sources. The Russian Central Bank and the Federal Financial Monitoring Service (Rosfinmonitoring) revealed that there is currently a system that allows private banks to track the connection between fiat-based transactions and cryptocurrency business.

The announcement was made at the "Current Anti-Money Laundering/Anti-Terrorist Financing Issues" forum organized by Rosfinmonitoring. The forum also disclosed that the pilot project started in 2023, and five large credit institutions are cooperating with Rosfinmonitoring. It is expected to continue until April next year, but it can also be extended.

Ilya Bushmelev, the portfolio management director of Rosfinmonitoring's partner Innotech, said that the pilot project may help banks establish "know your crypto customer" and "know your crypto transaction" procedures, and pointed out that the system may be useful for compliance and regulatory purposes. (Bitcoin.com)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — ASTER/USDT!
Bitget Announcement2025/10/09 06:00
CandyBomb x 2Z: Trade to share 5,175,000 2Z!
Bitget Announcement2025/10/02 08:00

Trending news

More
1
New spot margin trading pair — ASTER/USDT!
2
Onchain Challenge (Phase 22) — Trade and share 120,000 BGB in airdrops

Crypto prices

More
Bitcoin
Bitcoin
BTC
$121,913.33
-0.98%
Ethereum
Ethereum
ETH
$4,383.08
-3.05%
Tether USDt
Tether USDt
USDT
$1
-0.02%
BNB
BNB
BNB
$1,268.04
-2.66%
XRP
XRP
XRP
$2.82
-1.92%
Solana
Solana
SOL
$221.94
-3.07%
USDC
USDC
USDC
$0.9999
-0.03%
Dogecoin
Dogecoin
DOGE
$0.2499
-1.65%
TRON
TRON
TRX
$0.3369
-1.48%
Cardano
Cardano
ADA
$0.8173
-2.36%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter