Russian Regulator cooperates with banks to block suspicious crypto activity 15 September 2021

The Bank of Russia has started working with local banks on halting payments to cryptocurrency exchanges in order to protect customers from “emotional” purchases of crypto. The new measures aim to protect Russian investors from potential losses in case of a collapse of the cryptocurrency market. Earlier this month the regulator asked local banks to block customer accounts, e-wallets or credit cards for suspicious crypto transactions identified using various criteria such as the number of senders or receivers. Some of the criteria suggest that Russian banks should block accounts related to an unusually large number of counterparties.

Source: https://cointelegraph.com/news/bank-of-russia-wants-to-block-emotional-and-suspicious-crypto-activity