Russian Draft Legislation on Regulating Cryptocurrencies Is Planned for Submission to Parliament in the Autumn

Russia's financial monitoring agency, Rosfinmonitoring, said it is upgrading its ability to track cryptocurrency transactions as Moscow looks to regulate the industry, possibly later this year, Reuters reported on Friday. Russia has already identified some criminal cases involving crypto, Rosfinmonitoring's head Yuri Chikhanchin told Reuters. Going forward, the agency intends to discover transactions and blockchains that are currently hidden.