Russia Makes Its First Bitcoin Arrests for Illegal Trading $9 million worth of bitcoin

in #dtube • 7 years ago

Police in Russia arrested three men last week, charging them with illegally trading 500 million rubles (around $9 million) worth of bitcoin, the first criminal case against bitcoin sales in the country, Vedomosti reported. The arrests in Kostroma, 260 miles northeast of Moscow, demonstrate the government’s desire to crack down on money laundering, presenting a challenge to a country that wants to support cryptocurrency development, according to Forbes.

Irina Volk, a press officer for the Ministry of Internal Affairs, said the men are being charged with illegal banking. Their names have not been released.

Police found activity in bank accounts connected to 300 bank cards and sim cards used to store bitcoin. Prosecutors believe the money was moving into accounts held by family members.

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7 years ago in #dtube by
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