Crypto transactions in Russia will be analyzed by “Transparent blockchain”

Cryptocurrency transactions carried out in Russia will be analyzed by the specialized transparent blockchain system, which is currently being developed by the Federal Service for Financial Monitoring (Rosfinmonitoring). The Ministry of Telecom and Mass Communications reported that its initial version of the system has already been created jointly with the Lebedev Physical Institute and is based on bitcoin.

In particular, the functionality will allow tracking operations with digital instruments and, to some extent, de-anonymize their initiators. In addition, it will make it possible to initiate investigations aimed at combating the illegal use of crypto assets.

According to the letter received at the request of RBC, the “Transparent blockchain” will be used by government authorities and financial regulators. In addition, foreign intelligence services have already shown interest in the development.