Elliptic Identifies 400 Crypto Trading Platforms Linked to Russia
Main page News, Russia, Crypto Market, Regulations

Elliptic, a blockchain forensic firm, has identified 400 cryptocurrency trading platforms where cryptocurrencies can be purchased with Russian Ruble, said the company's head Simone Maini.

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She noted that the London-based firm also linked several million crypto addresses to these businesses. Maini notes most of these trading platforms are unregulated, and can be used anonymously.

Moreover, Elliptic directly linked over 15 million cryptocurrency addresses to criminal activity "with a nexus in Russia." Although no details were given on that, Maini emphasized that the firm has identified "several hundred thousand crypto addresses linked to Russia-based sanctioned actors."

Chainalysis Announces Free API Tools to Comply with Sanctions

Earlier in March, iHodl reported that the US Financial Crimes Enforcement Network (FinCEN) warned Russia could turn to cryptocurrencies to evade sanctions. Although the watchdog has not seen widespread evasion of sanctions using methods such as cryptocurrency, prompt reporting of suspicious activity contributes to national security, said FinCEN Director, Him Das,

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