The Russian government agency is responsible for monitoring and preventing financial crimes in the country, seeking to expand its internal system for cryptocurrencies.
According to the publication, the Moscow Institute for Security and Information Analysis (SPI) developed a better system allowing data about crypto wallets related to some individuals with a value tag of approximately 9 million rubles (or approximately $ 2.8 million).
According to the documents published through an electronic auction system, which registers purchase and purchase requests from Russian agencies, Rosfinmonitoring should get an updated system before the end of the year.
According to the BBC, SPI has created other law enforcement-oriented tools in the past. There is not much information about the scope of the initiative, and the SPI did not respond to the comment request.
The agency is probably unsafe to demand such functionality, and its work may fit within a regulatory framework within Russia itself. As previously mentioned, policy makers and legislators in the country have gone further on the question of cryptocurrency inspection.
Still, this information is not clear how the information will be added to the Rosfinmonitoring system. In recent years, the number of people kept on the list of the agencies has been tabulated by those who have been accused of social media posts which are considered extremists or anti-religious in nature.
At the moment, due to allegations of terrorism, accounts which have been blocked in Russia include 8,600 people. There are 485 entries in the list of units, most of which are different Russian religious organizations. There are 101 foreign entities and 415 foreign persons listed in the database.