Does the government monitor cryptocurrency transactions?

At present, the Russian Federation does not have a fully functioning system for comprehensive monitoring of cryptocurrency transactions. However, the government is actively working on its development. In particular, Rosfinmonitoring is developing the "Transparent Blockchain" system, intended to track transactions on public blockchains, detect suspicious activity, and analyze sources of funds. The development is state-funded and forms part of the strategy to strengthen financial control in the digital environment. Concurrently, the requirements of Federal Law No. 115-FZ oblige banks, exchanges, and exchange operators to perform client identification and report suspicious transactions. Thus, although full-scale monitoring has not yet been implemented, the government is already building the infrastructure for monitoring cryptocurrency operations, and the level of oversight is expected to increase significantly in the near future.