On the evening of August 13, law enforcement officials conducted extensive searches at the Gorbushka shopping center in Moscow as part of an investigation into cryptocurrency exchanges. This information was reported by the Telegram channel Baza and several other media outlets.
Witnesses reported that during these investigative actions, authorities seized cash, documents, and equipment.
Source: TopNews.In an interview with ForkLog, Bogdan Ageev, the owner of the Ageev Finance exchange located at Gorbushka, stated that officials were operating under the framework of investigative activities in the Rubin business center.
"According to our information, checks are being conducted on unofficial crypto exchanges in light of new cryptocurrency laws set to take effect soon," he commented when asked about the potential reasons for the raids.
Ageev added that his business was not affected by the situation as it is already in the process of legalization.
As reported by RT, the investigation is being handled by Moscow law enforcement agencies. Illegal cryptocurrency exchange employees were reportedly "blocked in premises and subjected to investigative actions," journalists noted.
Other sources indicated that the searches were connected to a fraud case, with police allegedly detaining a courier who was attempting to exchange stolen money for cryptocurrency.
The law "On Digital Currency and Digital Rights" in Russia will come into effect after September 1, with some provisions taking longer. A transitional period will last until July 1, 2027, during which market participants must obtain necessary licenses and align their operations with new regulations.
Regarding the actions of the authorities, which appear to be premature claims against unregulated businesses, Ageev suggested:
"I assume this is being done to make it clear that such operations can no longer continue and that preparations for licensing must begin."
Previously, ForkLog discussed with legal experts and market participants the contentious aspects of the draft law, including why Bitcoin wallet keys will need to be shared with a digital depository and how the government plans to monitor every cryptocurrency transaction within the country.