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Cryptocurrency transactions in Russia up threefold in 9M 2023 — official

According to the Russian Federal Financial Monitoring Service data, the count of cryptocurrency transactions was over 185,000 within the first nine months of this year

MOSCOW, November 1. /TASS/. Cryptocurrency transactions numbered more than 185,000 over the first nine months of this year, while 60,000 were registered in the like period in 2022, head of the Russian Federal Financial Monitoring Service Yury Chikhanchin said in an interview with the Izvestiya news outlet.

"We see a significant number of cryptocurrency transactions - their quantity moved up several-fold over the year. According to our data, the count of cryptocurrency transactions was over 185,000 within the first nine months of this year," the official said.

The amount of transactions rose almost twofold within the indicated period, Chikhanchin said. Drug traffickers, terrorists and corrupt officials proactively use cryptocurrency so a decision on its regulation "should be made as soon as possible," he noted.

A tool to trace cryptocurrency transactions - the Transparent Blockchain - exists, the official said. The software program was launched by the Service in cooperation with VTB and makes it possible to see who sends and receives funds, he added.

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