Russian Federal Financial Supervisory Service: The number of cryptocurrency transactions in nine months of this year exceeded 185,000

According to Yuri Chikhanchin, the Director of Rosfinmonitoring, the Federal Financial Monitoring Service of the Russian Federation, cryptocurrency is becoming increasingly popular in Russia. Chikhanchin stated that according to our data, the number of cryptocurrency transactions in the first nine months of this year exceeded 185,000 (compared to 60,000 during the same period last year). The amount of funds flowing has also increased. During certain periods, the registered cryptocurrency transaction volume almost doubled. Chikhanchin revealed that Rosfinmonitoring uses a "transparent blockchain" to track cryptocurrency transactions, which is a software toolkit launched in collaboration with the country's second-largest bank, VTB Bank. He explained that the software allows tracking of transactions on more than 30 blockchains and can access the identities of the senders and recipients in these activities. The tool is currently attracting attention from Arab, African, and Latin American countries, and it also allows banks to perform cryptocurrency compliance tasks.