The Russian Ministry of Internal Affairs is taking steps to monitor cryptocurrency wallet owners and keep track of their transaction records. This initiative has led to MVD employees being given access to a digital platform that is specifically for this purpose. This special platform is referred to as a ‘personal account for a law enforcement agency’.
The Russian News Agency (TASS) reported that the Ministry had disclosed that the new system would be used to recognize crypto wallet owners and also their activities.
Police Lieutenant General Andrey Kurnosenko, who is the Head of the Main Department For Economic Security and Anti-Corruption MVD, declared that the digital project has been completed successfully. This announcement was made on December 9, which was the eve of International Anti-Corruption Day. The goal is to raise public awareness of the efforts to combat corruption.
Kurnosenko explained that the digital platform comprises of a module that helps investigators to monitor cryptocurrency transactions. He did not provide any further details. The General mentioned that it has been possible to identify those cryptocurrency wallet owners who have not adhered to the protocol in the past.
The Finance Ministry accepted several ideas from law enforcement agencies all over the country as part of the regulatory effort. In April, MVD’s new crypto-tracking capabilities were revealed. The two topics discussed were the confiscation of digital assets and reporting on cryptocurrency transaction information.
According to news reports that were first published two years ago, authorities are developing a tool which can detect and analyze cryptocurrency transactions. At that time, the prototype of this system was said to be powered by artificial intelligence technologies. It was under testing in August 2020.
Last month, the Justice Ministry announced that the company had included the social media platform Meta in its list of “extremist organizations”. The restriction of campaigns was what triggered the actions. These were campaigns that were aimed at targeting Western social media platforms.
Russian authorities stated that these social media platforms published content which could potentially be a threat to internal peace and harmony in the country.
