Russian Regulator Monitors 25K Crypto Users, Claims Sophisticated Tools

• The top Russian anti-money laundering regulator, Federal Financial Monitoring Service (Rosfinmonitoring) is monitoring over 25,000 crypto users.
• Rosfinmonitoring has developed sophisticated tools to detect illegal activities in the cryptocurrency market.
• The agency has conducted 120 cryptocurrency related investigations and more than 60 criminal prosecutions.

Russian AML Regulator Monitors Crypto Users

The Federal Financial Monitoring Service (Rosfinmonitoring), Russia’s top anti-money laundering regulator, is “monitoring” over 25,000 crypto users and claims it has sophisticated tools that let it detect illegal activities. Yury Chikhanchin, the head of the body, recently held a meeting with President Vladimir Putin to discuss cryptocurrencies.

Tools Used By Regulator

Chikhanchin noted that advances in blockchain analytics software have helped them increase their monitoring capabilities. In 2020, they began using a de-anonymizing solution in conjunction with VTB Bank which initially allowed them to monitor transactions on Bitcoin blockchain protocol but now they can monitor around 20 different blockchains networks. Testing with the same tool is underway at other government organs such as Ministry of Internal Affairs, Federal Security Service and Investigative Committee. Furthermore, some leaders from CIS countries have asked for help from Rosfinmonitoring for this tool.

Crypto Use Growing In Russia

Chikhanchin noted that there was an unfortunate growth of cryptocurrencies use in Russia and he suspected cryptoassets were being used as money laundering tools in many cases. He also said that the turnover of crypto assets was estimated to be around 630 thousand Bitcoin (BTC).

Criminal Investigations And Prosecutions

Rosfinmonitoring has conducted about 120 crypto-related investigations which resulted in more than 60 criminal prosecutions so far.


In conclusion, Rosfinmonitoring is actively monitoring all activities related to cryptocurrencies and taking necessary actions against any suspicious behavior or illegal activities by using its advanced technology solutions based on blockchain analytics software .