Russia’s Crypto Users Under Surveillance: 25,000 Monitored by AML Regulator

Russia’s Crypto Users Under Surveillance: 25,000 Monitored by AML Regulator

• The Russian anti-money laundering regulator, Federal Financial Monitoring Service (Rosfinmonitoring), is monitoring over 25,000 crypto users.
• It has detected 10 financial organizations that are believed to be aiding these participants and a turnover of 630,000 Bitcoin (BTC).
• Rosfinmonitoring is using advanced blockchain analytics software to detect illegal activities on 20 different blockchain networks.

Russian AML Regulator Monitors 25,000 Crypto Users

The top Russian anti-money laundering regulator, the Federal Financial Monitoring Service (Rosfinmonitoring), is “monitoring” over 25,000 crypto users – and claims it has sophisticated tools that let it detect illegal activities. During an meeting with President Vladimir Putin, Yury Chikhanchin, the head of Rosfinmonitoring said Russia’s crypto “turnover” was “in the region of over Bitcoin (BTC) 630,000.”

Tools Used by Russian Regulator

Chikhanchin claimed that advances in blockchain analytics software had helped the body increase its monitoring capabilities. In 2020, the body began using a de-anonymizing solution in conjunction with VTB Bank which initially allowed them to monitor transactions on the Bitcoin blockchain protocol. However they have since expanded their capabilities and can now be used to monitor “over 20” different blockchain networks. Tests are also being conducted at other government organisations such as Ministry of Internal Affairs and Federal Security Service.

Investigations Conducted by Regulator

The regulatory chief noted that Rosfinmonitoring had conducted “about” 120 crypto-related investigations which led to “more than 60” criminal prosecutions. He added that regulators in other Commonwealth of Independent States countries had asked them for assistance using this same tool.

Growth in Use of Cryptocurrencies

Chikhanchin stated that unfortunately there was a growing volume use of cryptocurrencies within Russia and he expressed his concern that they were being used as a money laundering tool in many instances.


Rosfinmonitoring is actively trying to combat money laundering and terrorist financing through advanced blockchain analytics software which allows them to monitor transactions on more than 20 different blockchain networks and assist other Commonwealth states who require their help with similar issues involving cryptocurrencies.