A Russian government agency has gone through measures to monitor and prevent potential financial crimes which could take place in the countries trading system. Currently, they are seeking to further expand its internal systems, in order to cater for cryptocurrencies.
The BBC reported that the agency are beefing up its capabilities to monitor certain types of transactions which take place within a decentralised environment. Transactions made with cryptocurrencies will be able to function on a more stabilised environment, increasing its overall security overtime.
Rofinmonitoring will be playing a significant role when it comes to matters involving crypto transactions and various types of regulations. Rofinmonitoring has already played a part in regulating systems in the past, they have properly monitored various social media posts, countering extremist and anti-religious nature.
The agency is aiming to properly regulate its framework within Russia, increasing crypto trading platforms over time, which will result in a more stable oversight for the crypto trading potential. So far, almost 9000 people have had their accounts blocked in Russia, due to criminal charges that have taken place overtime. Currently, the database holds a list of 101 foreign entities and 415 foreign individuals