In 2021, it was revealed that Russia was implementing a tool for authorities to monitor cryptocurrency transactions with the mission of tracking the conversion of Bitcoin into fiat currency.
The tool was named "Transparent Blockchain". Reading local press, it has come to light that "Transparent Blockchain" played a role in solving a murder case. German Neglyad, the Deputy Director of the Federal Financial Monitoring Service, explained that the tool aided in solving an investigation related to a commissioned murder paid for in cryptocurrency. "Identifying and analyzing cryptocurrency transactions is made easier for us and law enforcement by the 'Transparent Blockchain' service. There have already been several criminal cases brought to court in which such analysis has been utilized. One of the most widely publicized solved crimes is a commissioned murder paid for in cryptocurrency," highlighted the official.
The development of a system for tracking cryptocurrency transactions within the Russian Federal Financial Monitoring Service (Rosfinmonitoring) began as early as 2018. In 2021, Russian President Vladimir Poutine announced the end of illegal cross-border cryptocurrency transactions.
Russians could face up to 3 years of imprisonment if they do not declare their cryptocurrencies. "Transparent Blockchain" was developed by the Lebedev Physics Institute.
Article translated (online-translator) from French website zataz.com
The tool was named "Transparent Blockchain". Reading local press, it has come to light that "Transparent Blockchain" played a role in solving a murder case. German Neglyad, the Deputy Director of the Federal Financial Monitoring Service, explained that the tool aided in solving an investigation related to a commissioned murder paid for in cryptocurrency. "Identifying and analyzing cryptocurrency transactions is made easier for us and law enforcement by the 'Transparent Blockchain' service. There have already been several criminal cases brought to court in which such analysis has been utilized. One of the most widely publicized solved crimes is a commissioned murder paid for in cryptocurrency," highlighted the official.
The development of a system for tracking cryptocurrency transactions within the Russian Federal Financial Monitoring Service (Rosfinmonitoring) began as early as 2018. In 2021, Russian President Vladimir Poutine announced the end of illegal cross-border cryptocurrency transactions.
Russians could face up to 3 years of imprisonment if they do not declare their cryptocurrencies. "Transparent Blockchain" was developed by the Lebedev Physics Institute.
Article translated (online-translator) from French website zataz.com