Russia shuts down nine unregistered crypto exchanges in Moscow; FSB alleges money laundering.

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On August 7, Russia’s FSB shut down nine unregistered crypto exchanges in Moscow, accusing them of violating AML regulations and engaging in money laundering. The exchanges allegedly converted funds stolen through phone scams into cryptocurrency and transferred them to Ukraine. Over 20 employees were detained at the Moscow International Business Center. The operation, conducted in coordination with the Ministry of Internal Affairs, has triggered a criminal investigation. Under Russian law, those convicted could face up to 10 years in prison. The FSB is now identifying victims and assessing compensation. This crackdown aligns with global AML initiatives and precedes the EU-wide enforcement of MiCA next year.

According to ME News, on August 7 (UTC+8), the Russian Federal Security Service (FSB) conducted raids on nine unregistered cryptocurrency service providers in Moscow, alleging they were involved in transferring funds obtained through fraud overseas via cryptocurrency assets, and detained over 20 employees at the Moscow International Business Center. The FSB stated that these exchanges converted stolen funds from victims of Russian phone scams into cryptocurrencies and transferred them to accounts allegedly controlled by parties in Ukraine. The operation was carried out jointly by the FSB and the Russian Ministry of Internal Affairs. The Russian Ministry of Internal Affairs has launched a criminal investigation into the large-scale fraud, which under Russian law carries a maximum penalty of 10 years in prison. The FSB said it is continuing to identify victims and assess potential compensation. (Source: ODAILY)

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