Deputy Director of Rosfinmonitoring Herman Neglyad said that now there is a discussion about how to deal with cryptocurrency exchangers. One of the proposed options was to ban them.
During the VII Banking Legal Conference, Neglyad noted that, according to the recommendations of the Financial Action Task Force on Money Laundering (FATF), all companies working with digital assets must comply with anti-money laundering laws. Or, such firms should be prohibited from doing business.
“With regard to the direction on the management of high risks of money laundering or terrorist financing, in the national risk assessment of 2018, virtual assets, which include cryptocurrencies, are recognized as a high risk factor for our financial space. Here we have to conclude the discussion, I think, in the coming year. And yet it should be determined within the framework of the standards that the FATF provides us, ”he said.
From the point of view of Rosfinmonitoring, exchange offices working with cryptocurrencies are a priority target. They become “gates” to the formal financial system and must either be banned or comply with anti-money laundering regulations. At a minimum, implement user identification.
“Both options have the right to life. There are different points of view. This discussion must be completed, ”the official concluded.
Recall that, according to the report of the Central Bank of the Russian Federation for the III-IV quarters of 2021, the citizens of the Russian Federation conducted cryptocurrency transactions for 350 billion rubles (just under $ 5 billion).
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