{"id":204479,"date":"2021-03-17T18:45:07","date_gmt":"2021-03-17T15:45:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/putin-issues-orders-to-combat-illegal-cross-border-transfers-of-digital-assets\/"},"modified":"2021-03-17T18:45:07","modified_gmt":"2021-03-17T15:45:07","slug":"putin-issues-orders-to-combat-illegal-cross-border-transfers-of-digital-assets","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/putin-issues-orders-to-combat-illegal-cross-border-transfers-of-digital-assets\/","title":{"rendered":"# Putin issues orders to combat \u2018illegal cross-border transfers\u2019 of digital assets"},"content":{"rendered":"

“# Putin issues orders to combat \u2018illegal cross-border transfers\u2019 of digital assets <\/strong>”
\n<\/p>\n

Russian President Vladimir Putin has stressed the importance of developing additional measures to fight against illegal cross-border transactions of digital financial assets.<\/p>\n

Speaking at a board meeting of the General<\/a> Prosecutor\u2019s office Wednesday, Putin stated<\/a> that \u201ccriminal elements have been increasingly deploying digital financial assets,\u201d which needs special attention from the government.<\/p>\n

\u201cThere is one more point \u2014 quite new, but essential: we should take additional measures to suppress illegal cross-border movement of digital financial assets,\u201d Putin said. The President ordered local enforcement as well as the Federal Service for Financial Monitoring, or Rosfinmonitoring, to give all their attention to this issue.<\/p>\n

As Putin did not elaborate on the context of illegal cross-border transactions using digital assets, it now app<\/a>ears to be unclear what violations exactly he meant. Nikita Soshnikov, a former senior lawyer at Deloitte CIS and director of Alfacash, told Cointelegraph:<\/p>\n

\u201cIt is not the first time when the President asks law enforcement agencies and a Russian financial intelligence unit to pay special attention to crypto transactions in such a negative context. But it is unclear what is meant by \u201ccross-border\u201d crypto operations which are world-wide by their nature and how law enforcement measures could apply.”<\/p><\/blockquote>\n

Russia adopted its major cryptocurrency law, \u201cOn Digital Financial Assets,\u201d in January 2020, officially prohibiting payments made in cryptos like Bitcoin in the country. The Russian government has also been working<\/a> on separate initiatives to adopt restrictions on foreign payment services and digital wallets like AliPay and WeChat.<\/p>\n

Putin\u2019s latest remarks on illegal cross-border digital asset transactions come amid somewhat intensifying<\/a> relations between Russia and the United States.<\/p>\n