Raids are being conducted on cryptocurrency exchange offices in Russia.
For several weeks, searches have been conducted in Moscow at the offices of cryptocurrency exchanges and exchanges that are not formally banned in Russia.
Journalists from the publication «Baza» have discovered that law enforcement officials have not yet opened criminal cases and are inspecting premises in the Moscow City business center as part of a procedural investigation, apparently at the request of the prosecutor. Law enforcement officials have allegedly already seized $10 million, 100 million rubles, and 100,000 euros from firms providing digital asset exchange services, and frozen funds stored on Chinese crypto exchanges.
The organizations targeted in the raids included the Rapira exchange and the MoscaEx exchanger. Both platforms are still operational, suggesting that law enforcement officials did not confiscate assets and equipment belonging to these institutions. The searches were motivated by the illegal transfer of funds from Russia to the UAE through a cryptocurrency service provider.
As State Duma Deputy Andrei Lugovoy noted, only digital asset mining is currently regulated in Russia, while the rules for cryptocurrency exchanges and exchangers are not enshrined in law. Therefore, from a legal perspective, virtual currency exchange services do not violate regulatory measures unless they are involved in illegal activities, such as money laundering.
Andrey Lugovoi
