Russia: Use of bitcoin by drug dealers increases

Crime | February 29, 2016 By:

The Russian Federal Drug Control Service said that the use of Bitcoin by drug dealers in Russia has shown a 20-time increase over the past two years.

“Over the past two years, drug dealers in Russia used Bitcoin 20 times more,” said FDCS Operational Search Department deputy head Dmitry Buyanov.

Buyanov¬†added that despite the fact that now there is little evidence that Bitcoin are used in terrorism and drug trafficking, their turnover in five years will be “catastrophic”.

The Federal Drug Control Service of the Russian Federation is a federal law enforcement agency of executive authority responsible for drafting state policy, legal regulation, control and monitoring in combating trafficking drugs, psychotropic substances, and their precursors.