Russia Announces The Development of a New Cryptocurrency Monitoring System

Russia announced on Tuesday it began developing a new analytical tool to monitor major cryptocurrencies such as bitcoin and other cryptocurrencies, as part of the Russian government’s attempt to combat money laundering and terrorism using artificial intelligence.

The new system is designed to track the movements of digital financial assets and identify crypto service providers in order to combat illicit activity related to cryptocurrencies.

The new system will likely be able to reduce anonymity for users of Bitcoin, Ethereum, and other cryptocurrencies.