Rosenmontag will monitor transactions with cryptocurrencies in Russia in accordance with the International group to develop measures to combat money laundering (FATF), said the Deputy head of the service. Officials plan to register and check the exchange offices, playgrounds ICO and operators blockchain wallets. The Agency also will test operations with Fiat currency for the sum over 600 thousand roubles.
Pavel Livadny, Deputy head of the Federal financial monitoring service — the state service of control over observance of legislation on counteraction to legalization of criminal incomes and terrorism financing (AML) — said the newspaper “Izvestia” that his Department will maintain control over the circulation of cryptocurrency in accordance with the recommendations of FATF, a member of which is Russia.
As told Livadny, all countries participating in the FATF should amend the legislation and licensing, registration of exchange of scriptaction, playgrounds ICO and administrators cryptocell, as well as to monitor their activities and compliance with standards in the field of AML.
According to the representative of Rosfinmonitoring on the basis of the recommendations of the FATF cryptocurrency can be “handled or transferred and used for payments and investments.” The virtual assets can be securities, conventional and non-cash money, coins, and other financial assets.
According to the FATF definition, Rosfinmonitoring will regulate the exchange of virtual assets for traditional currencies, each other, and their transfer, storage and placement. Price threshold for transactions scriptactive will be installed later, although the translation from Fiat currency, it will amount to 600 thousand rubles.
According to the head of RAKIB Yuri Pripachkin, market participants need to report to the financial regulator on transfers in excess of 600 thousand rubles, and the operations for the sum to 15 thousand can be anonymous. He also added that the government will need to introduce licensing for operators of cryptocurrency.
Earlier this month, the special representative of the Russian President for digital development, Dmitry Peskov declared that the authorities will regulate the market of cryptocurrency in accordance with FATF standards. According to the Agency “ROMIR”, a third of Russians understand the cryptocurrency.