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“Bitcoin’s illicit use is mainly based on anecdotal evidence, usually without supporting data analysis of how it is used across geographical regions, or trends over time.”
The Foundation for Defense of Democracies’ Center of Sanctions and Illicit Finance cooperating with blockchain analytics company Elliptic, recently concluded a study seeking to track the relation of illicit funds within the bitcoin economy from 2013 to 2016. The research concluded that the amount of illicit activity linked directly to bitcoin transactions was <1%, and has gradually declined since bitcoin's major boom in popularity.
The report adds however that the exact number of illicit transactions is impossible to record.
"If the law prescribes that this [cryptocurrency] is property, then any property owned by a State Duma deputy must be declared."
A new bill for regulating cryptocurrencies in Russia submitted by the finance ministry and the central bank requires State Duma deputies to declare their cryptocurrency investments. Currently, government officials are not required to declare their crypto holdings, according the Russian Ministry of Labor. Russia and cryptocurrency have been a widely discussed topic recently; at the Gaidar Forum this week it was revealed that the planned national cryptocurrency of Russia, the cryptoruble has been delayed for an indefinite amount of time.
The chairman of the State Duma Committee on Financial Markets Anatoly Aksakov has stated that the information is for the best interest of the state, and the bill is expected to be effective as of February.
“In order to comply with the identification and anti-money laundering regulations being enforced by the government.”
South Korea’s Financial Services Commission (FSC) recently revealed information about a new ‘real-name’ verification system required for all domestic trading platforms. The popular South Korean exchange Korbit, has announced this it will be freezing funds being deposited on its platform from non-Korean born citizens.
Korbit says the new rules have been applied “in order to comply with the identification and anti-money laundering regulations being enforced by the government.”
The current deposit method will be discontinued by January/February.
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