Russia plans platform to tackle crypto crimes
A centralised database is proposed to improve information sharing across all banks, enhancing the detection and prevention of illicit activities.

Russia’s central bank has announced plans to develop a new platform to curb illegal financial activities, including unregulated crypto-to-fiat over-the-counter services. Collaborating with Rosfinmonitoring and financial institutions, the initiative aims to track and block suspicious transactions while preventing misuse of banking systems.
The system focuses on individuals known as ‘droppers,’ who exploit bank accounts for illicit purposes such as money laundering, drug trade, and unregulated cryptocurrency exchanges. Currently, monitoring is limited to individual banks, making it challenging to prevent offenders from opening accounts elsewhere. A centralised database is expected to improve information sharing across all financial institutions.
The Bank of Russia has stressed the need for a solution that enforces regulations without causing unnecessary harm to law-abiding citizens. While the project is still in development, no official timeline for its launch has been provided.