Russian Authorities Arrest 22 Cryptocurrency ATMs in Latest Crackdown

Home / Russian Authorities Arrest 22 Cryptocurrency ATMs in Latest Crackdown

The police confiscated BBFpro Bitcoin ATMs across 9 cities in Russia without any prior warning to carry out an inspection that will take at least six months. The Russian Bank representatives said that regulators are “conducting systematic work on uncovering and preventing illegal activities in the financial market.” The inspection will include a check on company’s BBFpro’s tax standing, exchange rate details and what know-your-customer (KYC) and anti-money-laundering (AML) processes the company applies.

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