The discussion on regulating or banning virtual currency exchangers should end in 2022. This was announced by the State Secretary, Deputy Director of Rosfinmonitoring Herman Neglyad, writes TASS.
He recalled that in the national risk assessment of 2018, cryptocurrencies are recognized as a high risk factor for the financial space of the Russian Federation.
“Here we have to finish the discussion, I think, in the coming year. And yet, be determined within the framework of the standards that are provided to us by FATF“, – he said.
Referring to the FATF proposals, Neglyad noted the need to regulate exchangers as points of entry into the official financial system. According to him, the organization offers two ways of such regulation – referring them to subjects of anti-money laundering legislation with identification, or prohibiting activities.
“Both options have the right to life. There are different points of view. This discussion should be completed, ”concluded the Deputy Director of Rosfinmonitoring.
As a reminder, in a letter dated September, the regulator classified operations with cryptocurrency exchangers as dubious and recommended that banks closely monitor them. In case of suspicion of money laundering, credit institutions are advised to block the client’s transactions and even terminate the bank account agreement.
The Bank of Russia also announced plans to develop a mechanism for blocking bank payments to cryptocurrency exchanges and exchangers.
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The discussion on regulating or banning virtual currency exchangers should end in 2022. This was announced by the State Secretary, Deputy Director of Rosfinmonitoring Herman Neglyad, writes TASS.
He recalled that in the national risk assessment of 2018, cryptocurrencies are recognized as a high risk factor for the financial space of the Russian Federation.
“Here we have to finish the discussion, I think, in the coming year. And yet, be determined within the framework of the standards that are provided to us by FATF“, – he said.
Referring to the FATF proposals, Neglyad noted the need to regulate exchangers as points of entry into the official financial system. According to him, the organization offers two ways of such regulation – referring them to subjects of anti-money laundering legislation with identification, or prohibiting activities.
“Both options have the right to life. There are different points of view. This discussion should be completed, ”concluded the Deputy Director of Rosfinmonitoring.
As a reminder, in a letter dated September, the regulator classified operations with cryptocurrency exchangers as dubious and recommended that banks closely monitor them. In case of suspicion of money laundering, credit institutions are advised to block the client’s transactions and even terminate the bank account agreement.
The Bank of Russia also announced plans to develop a mechanism for blocking bank payments to cryptocurrency exchanges and exchangers.
Subscribe to Cryplogger news on Telegram: Cryplogger Feed – the entire news feed, Cryplogger – the most important news, infographics and opinions.
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