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Russians Going to Track Crypto Transactions

Even Bitcoin’s original developer could not have predicted the meteoric rise of cryptocurrencies like Bitcoin over the years. Bitcoin, which began its journey nearly a decade ago, has managed to become the star of the crypto world. Many exchanges readily accept traditional money in exchange for their tokens, and most nations allow direct transactions in stores.

 

 

Despite the fact that this issue is prevalent across all cryptocurrencies, several people have begun working on a solution to monitor crypto. Russia is one of the most significant countries working on crypto monitoring technology.

 

Rosfinmonitoring, the nation’s financial monitoring organisation, has contracted RCO to construct the instrument. RCO will prepare the instrument for $200,000, according to numerous reports, after discussions reduced their initial price of $270,000. Despite receiving less than their initial bid, RCO remains enthusiastic about working on the project. They are a subsidiary of one of Russia’s largest information technology companies.

 

Rosfinmonitoring has chosen a contractor to construct a platform for tracking bitcoin transactions in the country. According to Russian crypto media, the company that won the contract, RCO, is run by Rambler Internet Holding, which is associated with the financial powerhouse Sberbank.