Russian Regulator Monitors 25,000 Crypto Users – Here’s How


• Russian anti-money laundering regulator says it is “monitoring” over 25,000 crypto users
• Advanced blockchain analytics software has helped the body increase its monitoring capabilities
• Rosfinmonitoring has conducted 120 crypto-related investigations leading to more than 60 criminal prosecutions

Russian AML Regulator Monitoring Thousands of Crypto Users

Yury Chikhanchin, the head of the Federal Financial Monitoring Service (Rosfinmonitoring) in Russia, recently held a meeting with President Vladimir Putin regarding cryptocurrencies. Chikhanchin claims that his agency is “unsettled” by the growth of crypto and is monitoring more than 25,000 participants in cryptocurrency operations. He also stated that 10 financial organizations have been identified as assisting these participants. Rosfinmonitoring estimates that Russia’s cryptocurrency turnover is around 630,000 Bitcoin (BTC).

Advanced Blockchain Analytics Software Used to Monitor Transactions

Rosfinmonitoring has implemented advanced blockchain analytics software to help detect illegal activities related to cryptocurrencies. The solution was first used by VTB Bank and allowed them to monitor transactions on the Bitcoin blockchain protocol. However, since then the capabilities have been expanded to monitor over 20 different networks. Other government agencies such as the Ministry of Internal Affairs, Federal Security Service and Investigative Committee are currently testing out the same tool. The solution has even attracted interest from other Commonwealth of Independent States countries who have asked for assistance from Rosfinmonitoring.

Criminal Prosecutions Result From Investigations

The regulatory body has conducted around 120 investigations into cryptocurrency activity which has led to more than 60 criminal prosecutions being made. This shows how serious Rosfinmonitoring takes any illegal activity involving cryptocurrencies within Russia and highlights how sophisticated their tools are becoming at detecting such activities.


In conclusion, it is clear that Russian regulators are taking serious steps towards preventing money laundering and other illegal activities involving cryptocurrencies within their jurisdiction. With advanced analytics tools being used by multiple government agencies it appears that they will be able to effectively identify those involved in such activities and take legal action against them when necessary.