The Federal financial monitoring service has developed a prototype for tracking transactions in the Bitcoin blockchain and proposed to launch a Federal project to track transactions with cryptocurrencies.
Rosfinmonitoring successfully tested the project “Transparent blockchain” to track transactions in the Bitcoin blockchain related to drug trafficking. A prototype developed in collaboration with the Institute of Physics. Lebedev was evaluated by the Ministry of internal Affairs, and financial monitoring services of other countries also showed interest in him.
“Virtual assets, including various cryptocurrency systems, are used by criminals in a variety of illegal schemes: drug trafficking, tax evasion, cybercrime, contract killings, selling information from closed databases, financing extremism,” Rosfinmonitoring notes in a letter to the Ministry of communications.
The Transparent blockchain system is proposed to be part of the Federal Artificial intelligence project and used for automatic detection of malicious transactions. At the same time, the development of a full-fledged system for monitoring cryptocurrency transactions will require 760 million rubles: 440 million rubles in 2021, 230 million rubles in 2022 and 90 million rubles in 2023.
Note that in June, the system for detecting suspicious cryptocurrency transactions was launched by the analytical company CipherTrace. Chainalysis offers similar solutions, and these tools are used by a large number of cryptocurrency exchanges around the world.