CoinVoice has recently learned that the Russian Federal Financial Supervision Service (Rosfinmonitoring) stressed that even if the Financial Action Task Force (FATF) decides to blacklist Russia, its anti-money laundering system will continue to operate effectively. Virtual currency regulation issues were mentioned in previous assessments, but Rosfinmonitoring insisted that these issues have been resolved.

“The Russian Federation improved its rating on three FATF recommendations, only one of which was downgraded to ‘partial compliance’ due to insufficient legislative oversight in the field of virtual currency circulation,” the regulator said, according to TASS.

However, Rosfinmonitoring noted that since those assessments, Russia has passed two federal laws to strengthen its regulatory framework for digital currencies. “Since then, the Russian Federation has adopted two federal laws regulating the circulation of digital currencies,” the agency added.

It is reported that FATF is an intergovernmental organization that sets global standards for anti-money laundering and combating terrorist financing. Whether Russia will be blacklisted will be discussed at the FATF plenary meeting from October 21 to 25. [Original link]