The Federal Financial Monitoring Service has developed a prototype for tracking transactions in the Bitcoin blockchain and proposed launching a federal project to track transactions with cryptocurrencies.
Rosfinmonitoring has successfully tested the Transparent Blockchain project to track transactions in the Bitcoin blockchain related to drug trafficking. A prototype developed jointly with the Physics Institute. Lebedev, was assessed by the Ministry of Internal Affairs, financial monitoring services of other countries also showed interest in him.
“Virtual assets, including various cryptocurrency systems, are used by criminals in a variety of illegal schemes: drug trafficking, tax evasion, cybercrime, contract killings, sale of information from closed databases, financing of extremism,” Rosfinmonitoring notes in a letter to the Ministry of Telecom and Mass Communications.
The system “Transparent blockchain” is proposed to be made part of the federal project “Artificial Intelligence” and used for automatic detection of malicious transactions. At the same time, 760 million rubles will be required to develop a full-fledged system for monitoring cryptocurrency transactions: 440 million rubles. in 2021, 230 million rubles. in 2022 and 90 million rubles. in 2023.
Note that in June, the analytical company CipherTrace launched a system for detecting suspicious cryptocurrency transactions . Chainalysis offers similar solutions , and these tools are used by a large number of cryptocurrency exchanges around the world.