{"id":15327,"date":"2022-12-10T03:29:32","date_gmt":"2022-12-10T03:29:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/russias-interior-ministry-employs-tool-to-identify-crypto-wallet-owners-track-transactions-bitcoin-news\/"},"modified":"2022-12-10T03:29:32","modified_gmt":"2022-12-10T03:29:32","slug":"russias-interior-ministry-employs-tool-to-identify-crypto-wallet-owners-track-transactions-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/russias-interior-ministry-employs-tool-to-identify-crypto-wallet-owners-track-transactions-bitcoin-news\/","title":{"rendered":"Russia\u2019s Interior Ministry Employs Tool to Identify Crypto Wallet Owners, Track Transactions \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The Russian Ministry of Internal Affairs is now using a digital tool allowing officers to link cryptocurrency wallets to their owners. The software also has a feature facilitating the monitoring of crypto asset transactions, the department told Russian media.<\/strong><\/p>\n

Russian Police Brag About New Crypto Tracing Tool on Eve of Anti-Corruption Day<\/h2>\n

Employees of MVD, the Ministry of Internal Affairs of the Russian Federation, now have access to a specialized digital platform called \u201cPersonal account of a law enforcement agency,\u201d Tass reported. The ministry revealed to the news agency that it\u2019s identifying owners of cryptocurrency wallets using the new system.<\/p>\n

\u201cThis digital project has already been implemented and is successfully operating,\u201d the head of MVD\u2019s Main Department of Economic Security and Anti-Corruption, Police Lieutenant General Andrey Kurnosenko, told Tass on the eve of the International Anti-Corruption Day, celebrated on Dec. 9 to raise public awareness for efforts to combat corruption.<\/p>\n

Kurnosenko explained that the analytical tool allows his colleagues to quickly receive and evaluate collected information about specific financial risks for the Russian economy and also compile the results of joint work within national projects in the field of fighting cybercrime and other fields.<\/p>\n

The high-ranking MVD official also highlighted that the integrated product features a module developed to help investigators monitor cryptocurrency transactions. \u201cThere is already a positive experience of using this tool to identify unscrupulous owners of crypto wallets,\u201d the general pointed out, without elaborating further.<\/p>\n

The announcement of MVD\u2019s new crypto tracing capabilities comes after in April the Ministry of Finance accepted for review a number of proposals submitted<\/a> by the country\u2019s law enforcement agencies as part of a push to regulate<\/a> Russia\u2019s crypto space. One of the areas addressed was the seizure<\/a> of digital assets and the reporting of crypto transaction data.<\/p>\n

News that authorities in Russia are developing<\/a> a platform to track and analyze transactions involving cryptocurrencies came out two years ago. At the time, in August 2020, the prototype of the system, reportedly employing artificial intelligence technology, was undergoing tests.<\/p>\n

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\nTags in this story
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crypto assets<\/a>, crypto cryptocurrency<\/a>, crypto wallet<\/a>, crypto wallets<\/a>, Cryptocurrencies<\/a>, Department<\/a>, interior ministry<\/a>, Law Enforcement<\/a>, ministry<\/a>, MVD<\/a>, platform<\/a>, Police<\/a>, Russia<\/a>, russian<\/a>, Software<\/a>, system<\/a>, tool<\/a>, tracing<\/a>, Tracking<\/a>, Wallet<\/a>, Wallets<\/a><\/div>\n<\/div>\n

Do you think Russian law enforcement will actively use the new crypto tracking tool? Share your thoughts on the subject in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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