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Russia Cracks Down on Unregistered Crypto Exchanges Ahead of Regulation

Guavy AI Editorial Team
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Russia's Federal Security Service (FSB) detained over 20 people in a crackdown on unregistered cryptocurrency exchange services operating from Moscow's business district.

The raids targeted nine exchanges that allegedly converted scam proceeds into cryptocurrency and transferred the funds to Ukrainian handlers.

The operation comes just weeks before Russia's new regulated cryptocurrency market is set to begin on September 1, as part of a law signed by President Vladimir Putin in August.

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