Sberbank is pushing for a tough stance against illegal crypto exchanges. Stanislav Kuznetsov, Deputy Chairman of Sberbank, called crypto the 'Achilles' heel' in the fight against scammers and said it's one of the main pipelines for moving stolen money abroad.

What Sberbank Said

Kuznetsov called for illegal exchange platforms to be taken down 'systematically and mercilessly.' He stressed these services need consistent pressure: 'I hope these “wasps’ nests” will keep getting wiped out one by one.'

Digital Currency Law

Kuznetsov believes the new digital currency law, which took effect on September 1, should tighten oversight of the crypto market while still protecting legit players.

Illegal Exchanges in the Crosshairs

He also highlighted that law enforcement is now actively targeting illegal crypto exchanges. Cops recently raided the Gorbushka market as part of this crackdown.