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Russia’s Desperate Crypto Gambit Backfires as Global Watchdog Slams Sanctions for Being Utterly Ineffective

A  illustration depicting a person trapped in a broken chain, surrounded by cryptocurrency symbols and money bags with Russian flags waving in the background; to the left of the image, an empty 'blacklist' folder lies open on a desk.

Russia’s Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible.

Source: bitcoin.com

Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing previous concerns and stressed that no significant deficiencies exist that would justify Russia’s inclusion on the FATF blacklist, set for review this month. Russia’s Federal Financial Monitoring Service (Rosfinmonitoring) emphasized that its anti-money […]

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