The professor's third point focused on how digital currency transactions can be used for money laundering and financial fraud, as well as to avoid foreign exchange controls. (ccinews.net)
At an April 12 forum, Yuri Polupanov, the head of the bank's Financial Monitoring and Foreign Exchange Control Department, said that unlicensed, over-the-counter (OTC) cryptocurrency exchanges have sprung up in the shopping centers known as TC «Moscow,» «Food City,» and TC «Sadovod» (the latter of which is co-owned by Ilham Rahimov, a former classmate of President Vladimir Putin). (ethnews.com)
Exchange control licences: Most countries also have some form of foreign exchange control, i.e. controls over the amounts of foreign currency in their economies. (tradeready.ca)