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Russian Police Seize 22 Cryptocurrency ATMs in 9 Cities

Sep 2, 2018

Police officers have confiscated at least 22 automated teller machines selling cryptocurrency in shopping malls, stores and restaurants in nine Russian cities. All of the seized terminals are operated by Bbfpro which maintains a network of bitcoin ATMs across the vast country.

Bbfpro’s manager, Artem Bedarev, told the Russian media his company had not received any queries from the authorities prior to the seizure. He said he was told informally that the investigation will continue at least six months and the machines will not be returned before it’s completed. An officer who participated in the confiscation on Friday said the operation was ordered by the Prosecutor General’s Office following a request from the Central Bank of Russia

A CBR official declined to provide details on the case with Bbfpro’s ATMs but pointed out that the regulator conducts “systematic work to identify and counteract illegal activities in the financial market.” He further explained that the possibility for uncontrolled cross-border transfer of funds and their subsequent cash out increases the risk of using cryptocurrencies in illicit schemes. The Ministry of Interior and the Prosecutor’s Office did not respond to media inquiries about the operation.

Source & Full article: bitcoin.com

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