Russia Cracks Down on Crypto Scams Amid Regulatory Push
Russia's FSB raided several crypto services allegedly tied to Ukrainian scam proceeds. The raids come as Russia continues to develop its regulatory framework for digital assets, with President Vladimir Putin signing a landmark crypto law on August 4.
The bill, titled 'On Digital Currency and Digital Rights,' aims to regulate the use of cryptocurrencies in Russia. The State Duma approved the bill in its second and third readings, sending it to Putin for signature. Putin has now signed the bill into law as Federal Law No. 282-FZ.
Separately, the Bank of Russia proposed a framework for organized digital-asset trading, including formal rules for exchanges and digital depositories nationwide. The EU also approved a new sanctions package, which bars EU persons from dealing with 11 unnamed crypto operators.