Authorities will strengthen monitoring and analysis of cryptocurrency transactions

Rosfinmonitoring will spend 340 million rubles on the appropriate module, and one of the goals of this work is to increase cryptocurrency coverage and improve the analysis of information about the owners of wallets.

Rosfinmonitoring intends to 340 million rubles. As part of the development of the Unified Information System, modernize the “Monitoring and Analysis of Cryptocurrency Transactions” module, Kommersant reports with reference to the data of the public procurement website.

We are talking about expanding the composition of cryptocurrencies (Bitcoin, Bitcoin Cash, Litecoin, Dogecoin), improving the analysis of information about the owners of cryptocurrency addresses, providing monitoring and alert of the start of movement of funds at the cryptocurrency address, obtaining information about cryptocurrency supplies from external sources and improving analytical tools and analytical tools and analytical tools and analytical tools and analytical tools and analytical tools and analytical tools and analytical tools and analytical tools and analytical tools and analytical tools and improvement User interface, explains the teacher of Moscow Digital School Dmitry Kirillov.

Software refinement will allow Rosfinmonitoring to create and maintain a special registry in which the wallet address will be tied to its proposed owner, adds Mikhail Uspensky, a member of the expert council of the State Duma cryptocurrency.

In addition, more attention is paid to the development of information analysis and risk management based on information exchange with external databases, says Oleg Ogienko, director of interaction with Bitriver state bodies.

In 2020, Rosfinmonitoring proposed to include in the federal program “Artificial Intelligence” the “Transparent blockchain” project. 760 million rubles were requested for the project. From the federal budget: 440 million rubles. In 2021, 230 million rubles. in 2022 and 90 million rubles. in 2023. The executor of the project was the Physical Institute. Lebedeva.

In 2021, Rosfinmonitoring ordered the creation of a module for monitoring and analyzing cryptocurrency transactions using bitcoin for 14.7 million rubles. The tender won Er Si O LLC, which was controlled by Sberbank. On the world market there are analogues of such systems - Elliptic, Ciphertrace, Crystal Blockchain, Bitfury and Chainalysis.

The declared amount is not enough to create a full analogue of foreign systems, such as Crystal and CHAINALISIS, and copy their functionality, Kommersant said Dmitry Machikhin, general director of the Bitok cryptocurrency service. Abroad, such systems have been processing billions of suspicious and illegal addresses for more than one year, they can find interconnections and analyze risks, he says. In addition, specialists who can make such systems are “piece goods” and all of them work in foreign companies, says Machikhin.

In conditions of sanctions and geopolitical confrontation, it will be difficult to update the Russian base, coordinate it with world analytical systems and update it in real time, Oleg Ogienko believes.