Cryptocurrency is one of the means of money laundering in Russia

[KYCbench]

 


The Plenum of the Russian Supreme Court introduced the concept of cryptocurrency in the decision on money laundering cases. "On judicial practice in cases of money laundering," a clause appeared on "cash converted from virtual assets."

The subject of crimes under Articles 174 and 174.1 of the Criminal Code, including monetary assets converted from virtual assets (cryptocurrency), acquired as a result of the commission of a crime. By itself, cashing cryptocurrency will not be regarded as a crime, the court will check specific cases for violations.

The status of cryptocurrency in Russia is not defined and in recent years in Russia, cryptocurrencies have become more often used to market drugs and launder criminal proceeds. In practice changes are possible in the medium term. Digital money is more likely to be used for the unauthorized transfer of funds abroad and by those who are leading a shadow or penumbral business. For these people, in the short term, there are opportunities for cash conversion of cryptocurrency or the use of international exchanges and the shadow Internet for this, and in this regard, it is unlikely that something will change.




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[Becksinsky]

Russia is the first country that globally accepts bitcoin

[Jating]

Russia is the first country that globally accepts bitcoin

Lol, are you kidding? Up to know Russia is still on the gray area as far as crypto is concern. The worst thing is that they kept on contradicting themselves whether they're going to support crypto or not.

Maybe this is one reason why Russia doesn't want crypto, because the government knows that it's because used by criminals for drugs and money laundering. Just remember the BTC-e case. 

[elimark]

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[Klirrer]

Money laundering is one of the reasons why some people still have doubts about cryptocurrencies and are unsure if they should invest or not. These people often prefer doing matched betting as it is described on wetten.com. And especially in Russia where corruption and illegal trading is relatively normal I can easily imagine that cryptocurrencies are used for that. So that's sad but on the other hand we don't want to lose anonymity which is the big plus point.

[zackchyi]

Market economie and global finance bring many benefit to society, but also cause new form of crime, including money laundering.

[peter0425]

Market economie and global finance bring many benefit to society, but also cause new form of crime, including money laundering.

exactly the Point thats why I found this thread is just a form of advertising because Why blame cryptocurrency when Even without this Money Laundering is happening and mostly the involve are government employee or someone connected to them.

OP is only using the Popularity of crypto and this is the target of their company because look at this post,it is clearly promotional as the bottom of the thread is complete details of their company lol/\.

[bitterguy28]

because crypto is too easy to send in every parts of the world without dealing in Banks or third party .

You can just send wherever the crypto is available using many options.

Specially Russia as i believe so many people that Lives with crypto in their wallets.