Andrey Khaprov, head of the Russian Drug Trafficking Authority, asked the Russian parliament that if the encrypted user has more than 600,000 rubles (about 9,000 US dollars) in digital currency transactions, the user will have a legal obligation to report the transaction to the authorities for detailed review and authorise Russian law enforcement agencies to register and monitor users. Andrey said that without encryption, there will be a major risk that some illegal elements will redeem the digital currency into legal tender and use it for criminal activities. The relevant department has already approved his proposal. Previously, according to new Russian legislation, Russian encrypted users needed to conduct all transactions through a licensed operator that strictly abides by the AML / KYC agreement, which is designed to combat criminal activities such as terrorist financing and money laundering.
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