Summary
Russia’s Federal Security Service (FSB) announced a crackdown on unlicensed crypto exchanges allegedly linked to Ukraine, arresting at least 20 individuals connected to a network that scammed Russian citizens. The operation is the latest in Russia’s recent push to strengthen crypto regulation.
Details
According to CoinDesk, the FSB stated these unlicensed exchanges were suspected of providing fund transfer channels for Ukrainian interests while defrauding Russian citizens of crypto assets. Those arrested include exchange operators, technical staff, and money laundering intermediaries.
The crackdown reflects Russia’s dual approach amid Western financial sanctions: tightening crypto asset controls to prevent capital flight while also combating fraud in the crypto market. The Russian central bank has repeatedly called for stricter crypto trading regulation.
Editor: GoodInfo Global News Team