Russia Partners Turkey to Confront Crypto Misuse

Judicial and law enforcement authorities from Turkey and Russia are mutually operating to stand against cybercrime, taking into account the illegal utilization of crypto assets. The respective partnership has been consented to during the Russian Prosecutor General’s visit to Ankara. Igor Krasnov (the Russian Federation’s Prosecutor General) and Bekir Bozdag (the Minister of Justice in Turkey) have inked an exclusive program for collaboration between the departments under them for a couple of years, as reported by the news agency Tass.

Russian and Turkish Officials Collaborate to Eliminate Crypto Usage in Cybercrime

Both prominent officials had a meeting in the capital city of Turkey. One of the subjects that the officials touched on took into account the measures to stop the mounting cybercrime, taking into account the utilization of crypto assets as well as the rest of the virtual assets, as disclosed by the report. Following the sealing of the contract, Krasnov brought to the front the experience of Russia in the respective field.

Related: Russia Plans to Allow Crypto Mining Conditionally

He mentioned that the investigative practice in Russia has been advanced and the legislation of digital assets has been upgraded. As per him, the digital ruble of the country’s central bank is going through its pilot phase. Krasnov added that, in line with these developments, they can share something in this respect.

He additionally cited a draft convention dealing with the illegitimate utilization of the latest technology to carry out criminal activities. That draft was filed in 2021 to the United Nations. He stressed that the proposal by Russia is to outlaw a broad series of operations since these technologies are used on a wide scale to encourage extremist opinions, and try to impact the political regimes, as well as the ordinary people’s minds.

Simultaneously, in the Russian Prosecutor General’s words, the Western nations aim to minimize the knowledge regarding cybercrime just to minimize the span of computer-related crimes. Nonetheless, in his view, this does not reveal the core of the issue. Sanctions imposed against Russia have been escalating to influence the country’s invasion of Ukraine.

Turkey to Use an Exclusive payment System in Partnership with Russia for a Substitute

This indicates that the authorities in Russia have been contemplating legitimizing trade across borders with the use of crypto settlements. Payments carried out with Mir cards were prohibited in several jurisdictions however many banks in Turkey kept on processing them.

A couple of such lenders terminated processing these payments during the pressure built by the United States. Nevertheless, as put by Erdogan, the latest payment system’s development in collaboration with Russia would offer a fine substitute.