Russia detains four in 100M-ruble crypto laundering probe

Russia will prohibit cash-for-crypto transactions and require trades to go through cashless, bank-mediated channels, a senior central bank official said. The measure is meant to increase oversight of crypto-related flows and clamp down on informal peer-to-peer markets.

A joint US–UK–Canada enforcement action called Operation Atlantic froze more than $12 million tied to crypto approval phishing schemes and identified over 20,000 victims. Authorities say the move disrupted cash-out channels and underscores growing cross-border cooperation on digital asset crime.

Draft digital asset rules submitted to parliament would force Russian residents to disclose offshore crypto wallets to the Federal Tax Service. The proposal is pitched as a move to boost tax compliance and tackle illicit flows, though enforcement specifics are not yet public.

Blockchain analytics firm Elliptic says funds from the $286 million Drift Protocol exploit trace to laundering patterns linked to North Korean state actors, noting cross-chain movement and Solana-specific tracing hurdles.

A new bill submitted to Russia's parliament targets roughly 50,000 unregistered cryptocurrency miners with fines and possible prison terms, potentially impacting a majority of domestic mining operations. The proposal signals a tougher regulatory stance on mining activity.