Despite recent law enforcement raids, cryptocurrency exchanges in Moscow’s business center “Moscow City” are operating again. Some platforms have already restored operations, while others have temporarily limited withdrawals. Experts expect that in the future, the state will take strict control over crypto trading.
Partial recovery after the raids
In recent weeks, police conducted a series of searches in the offices of cryptocurrency exchange points. According to Denis Mayasov, a lawyer from Legal Crypto, the situation is now stabilizing:
“Even those offices that had visits from people in uniform are functioning again,” he told Forklog.
The platforms Mosca and Rapira were affected, and an investigation has been launched against them over possible capital outflows. According to Mayasov, Mosca resumed operations almost immediately after the search. Rapira’s app is functioning, but withdrawals are temporarily suspended.
Earlier, the portal Bits.media reported that during the searches, law enforcement seized over $10 million, 100 million rubles, and 200,000 euros, as well as froze the accounts of some platforms. The Telegram channel Baza, known for its connections with law enforcement, clarified that laptops, phones, and other equipment were confiscated during the operations.
The target of the raids is not only crypto traders
Law enforcement activity intensified at the end of September. According to experts, the authorities’ attention is focused not so much on legal exchanges, but on so-called “droppers”—individuals through whom criminals conduct suspicious transfers.
“Large amounts of cash and many cards registered to front persons are being found. The main target now is dropper operators,” Mayasov noted.
At the same time, the lawyer emphasized that the searches were tough and unexpected, and the seizures were widespread.
Risks for traders and prospects for centralization
Although crypto trading in Russia is not formally prohibited, the legal framework remains uncertain. The law has legalized mining, but exchange and sale operations of digital assets are still not regulated.
Because of this, even P2P deals can be considered suspicious if transactions raise questions from banks or investigative authorities. Mayasov warned that traders who do not pay taxes risk facing the same checks as offline exchanges.
The state is preparing a centralized market
According to Mayasov’s forecast, the crypto exchange market in Russia will become centralized in the coming years.
“In five to ten years, several licensed platforms will appear, operating under the control of banks and with state support,” he said.
Back in August, a group of deputies proposed that the Bank of Russia create a network of official crypto exchanges with physical presence and transparent operating requirements. This should be a step towards legalizing crypto trading under the supervision of the Central Bank.
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