KoronaPay bans crypto-related transfers

The KoronaPay money-transfer service has decided to ban all transactions related to cryptocurrencies. Finextra reports, citing the company’s statement.

Gleb Kozlov, CEO of KoronaPay Europe, said the service adheres to a policy of zero tolerance toward cryptocurrency-related operations and will report any suspicious activity to the appropriate authorities.

“While regulators in some European countries continue to take a relatively calm stance toward the explosive growth of cryptocurrencies, it is becoming increasingly clear that regulators in some of the markets where we operate are now taking a stance against the development of digital currencies,” he said.

It is reported that KoronaPay has implemented a purpose-built AI-based tool to monitor and block transactions with crypto exchanges.

ForkLog has contacted the company representatives for comment.

KoronaPay is part of the Russian payment system “Golden Crown”; under this brand, the company entered the European market in 2020.

Earlier in September, the Central Bank of Russia announced plans to develop a mechanism for blocking bank payments to crypto exchanges and exchangers.

Later the regulator sent banks inquiries regarding cooperation with Bitcoin exchangers in the area of P2P payments, including to cards of individuals acting as fronts.

On January 20, the Central Bank published a report in which it proposed to ban the circulation of cryptocurrencies in Russia.

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