An investigation into digital asset exchanges in the Russian capital has established that some of them are ready to buy digital coins and deliver paper money in the U.K. The transfer of funds does not usually involve the identification of the clients, Transparency International Russia reveals in a report.
Russia-based Cryptocurrency Exchanges Swap Stablecoins for British Cash
Russian crypto exchanges that can transfer money abroad without following know-your-customer (KYC) procedures and anti-money laundering (AML) are in the focus of a study conducted by the Russian Chapter of Transparency International. The results were presented in a new report published on Wednesday.
The association’s researchers were able to identify more than 20 coin trading platforms operating from Moscow International Business Center, commonly referred to as Moscow City. Through conversations with operators, they also found that eight of them were ready to exchange U.S. dollar-pegged stablecoins for British pounds and hand over the cash to recipients in London.
The authors noted that one of them is Suex, a crypto broker blacklisted by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) in September, 2021 for facilitating…
