Russia’s cryptocurrency transactions triple

From January to September 2023, the number of cryptocurrency transactions in Russia exceeded 185,000, three times the level for the same period last year (60,000). This is reported, citing a statement by Yuri Chikhanchin, director of Rosfinmonitoring, by «Prime».

Meanwhile, the volume of operations nearly doubled.

Chikhanchin noted that alongside ordinary citizens, cryptocurrencies are actively used by “drug traffickers, terrorists and corrupt officials.”

In light of this, he called for swifter introduction of market regulation.

Earlier officials attributed the heightened Russian interest in digital assets to sanctions. Against this backdrop, Russian banks began testing tracking of transactions and intend to scale the practice nationwide.

According to Transparency International Russia, Russians began purchasing through darknet Wirex accounts for crypto operations in the EU.