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Russia is preparing to license crypto ATM operators

Russia is preparing to license crypto ATM operators

HappyCoinNewsHappyCoinNews2024/12/28 13:44
By:HappyCoinNews

Russia plans to license crypto ATM operators. With such an initiative acted Deputy Chairman of the Federation Council Committee on Constitutional Legislation and State Building Artem Sheikin.

According to him, it is necessary to introduce mandatory licensing of persons organizing the activities of cryptomats. He believes that this will strengthen control over their work and at the same time reduce the level of crime in this market sector.

Artem Sheikin has already sent a corresponding request to the First Deputy Director of the Federal Service for Financial Monitoring. In it, he asked the agency to clarify issues related to the regulation of the operation of cryptocurrency ATMs in the country.

He noted that the development of the cryptocurrency market in Russia is proceeding at a rapid pace, and this is very good. However, there are many risks in this area, and cryptomats are often used for criminal purposes by fraudsters. With their help, they cash out funds obtained through criminal means, the senator said.

Licensing will be an important step in stopping the use of cryptomats in criminal schemes and protecting the interests of citizens. It is necessary to ensure that technological development does not interfere with ensuring security and legality in the financial market, said Artem Sheikin.

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