Head of Investigative Committee Calls for Mandatory Identification of Cryptocurrency Users in Russia – Regulated Bitcoin News


The head of the Russian Federal Bureau of Investigation recently stated that Russians who use cryptocurrencies should not remain anonymous. Officials leading the government’s fight against corruption have called for additional regulations, including mandatory identity verification for those transacting with digital coins.

Anti-corruption officials push for rules to mitigate risks of using cryptocurrencies for illicit purposes

The head of the Russian Federal Investigative Committee, Alexander Bastrikin, believes that people who use cryptocurrencies should not remain anonymous. The senior official shared his views in an interview with the government-issued Russian newspaper.

“I have noted that with the passage of the federal law ‘on digital financial assets’ in July 2020, there may be additional risks of using digital currencies for criminal purposes, particularly in the financing of terrorism and extremism,” Former Russian Deputy Prosecutor General Bastrykin told the official newspaper. He elaborated:

Therefore, the circulation of digital currency requires further legal supervision – first of all, the users of this currency must be identified.

Bastrykin said the status of online platforms that offer opportunities to buy and sell cryptocurrencies anonymously is also yet to be determined.Website offers cryptocurrency exchange The service has run into a lot of trouble with Russian regulators and the judiciary over the past few years.

Digital coin trading is one of many cryptocurrency-related activities that remain outside the scope of current digital asset legislation.One working team Set up in the State Duma, the lower house of the Russian parliament, it is currently preparing regulatory proposals to deal with outstanding issues.

The Investigative Committee is Russia’s main federal investigative and anti-corruption agency and is attached to the Russian President. It is responsible for fighting corruption and conducting investigations into federal government agencies, local authorities and law enforcement agencies.

In August, Russian President Vladimir Putin signed the decree Approval of the National Anti-Corruption Plan 2021-2024.As part of the new strategy, the Russian head of state order Several ministries and central banks are preparing to scrutinize officials who are obliged to disclose their digital asset holdings.

Speaking to RIA Novosti in December 2020, Alexander Bastrykin insisted that cryptocurrencies should be considered property for criminal law and procedural purposes. He stressed that this is a necessary condition for investigating criminal cases involving digital currencies. For example, bribery and embezzlement. November 2021, the Office of the Prosecutor General of Russia suggested Define cryptocurrencies as property in the country’s penal code.

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What do you think of Alexander Bastrykin’s proposal to introduce mandatory identification of cryptocurrency users in Russia? Let us know in the comments section below.

Lubomir Tasev

Lubomir Tassev, a journalist from tech-savvy Eastern Europe, likes Hitchens’ famous quote: “Being a writer is who I am, not what I do.” Beyond crypto, blockchain and fintech, international politics and The economy is two other sources of inspiration.




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