Russia Raids Crypto Exchanges Amid New Framework

Russia's Federal Security Service (FSB) has raided nine unregistered crypto exchange points in Moscow, alleging they were used to move proceeds from telephone scams abroad.

The operation comes days after President Vladimir Putin signed Russia's new crypto-market framework, which aims to create a regulated infrastructure for cryptocurrency trading.

The FSB says the exchange points helped process and move proceeds from scams, and more than 20 employees were detained at the scene. The case is being prosecuted as alleged complicity in large-scale fraud, rather than solely as a licensing violation.