Crackdown on Crypto Channels: Russian Authorities Target Drop Providers and Exchanges

The Ministry of Internal Affairs of the Russian Federation is conducting a nationwide operation to gather information on cryptocurrency transactions and establish a new registry. This initiative will target «drops, drop servers, arbitrageurs, crypto exchanges, and P2P platforms,» as reported by the Telegram channel Cartesius channel.

Particular attention is being focused on «drop servers,» which include both online players and independent market participants involved in the resale of bank cards.

The investigation will also encompass teams servicing online casinos and other platforms that utilize P2P channels. Additionally, crypto exchanges, regardless of their size or operational model, are under scrutiny by the Ministry.

The objective is to enhance the Ministry’s efforts to hold these participants accountable under Article 187 of the Criminal Code of the Russian Federation («Illegal Circulation of Payment Means»).

As a reminder, a platform to monitor cryptocurrency exchanges via drop services has begun to be developed in Russia.