Russia and Turkey to collaborate on fighting crypto-currency transactions linked to crime

Police and judicial authorities in Russia and Turkey are joining forces in the fight against cybercrime, including the use of crypto-currencies for illegal purposes. The collaboration was decided during a visit of the Russian Prosecutor General to Ankara.

Russia and Turkey are organizing cooperation in the fight against crime involving digital space and assets.

Prosecutor General of the Russian Federation Igor Krasnov and Turkish Minister of Justice Bekir Bozdag have signed a new two-year cooperation program between their departments, Tass news agency reported. The senior officials met in the Turkish capital.

One of the areas in which the parties plan to coordinate their efforts is the fight against cybercrime, including cases of criminal use of crypto-currencies and other virtual assets, the report revealed. After sealing the agreement, Igor Krasnov highlighted Russian experience in this area:

In Russia, the relevant judicial and investigative practice has been developed, the legislation on digital assets is being updated and the central bank’s digital ruble platform is being piloted. We have something to share.

Igor Krasnov also referred to a draft convention on combating the use of high technology in crime, submitted to the United Nations last year. He stressed that Russia’s proposal aims to criminalize a wide range of acts “since these technologies are widely used to promote extremist views, attempt to influence political regimes and the minds of ordinary people.”

At the same time, according to the Russian Prosecutor General, Western nations want “reduce the understanding of cybercrime only to a narrow circle of computer crimes, which, in our opinion, does not reflect the essence of the problem.“

Russia is facing increasing sanctions introduced by the West in response to the ongoing invasion of neighboring Ukraine. Its own ability to use crypto-assets to circumvent the restrictions imposed, which have significantly limited Moscow’s access to global markets and finance, has also been targeted. In turn, Russian authorities have considered legalizing crypto settlements in cross-border trade.

Payments with Russian Mir cards were also restricted in many jurisdictions, but several Turkish banks continued to process them. Two of these lenders suspended operations with Mir under pressure from the United States. But according to Turkish media reports, President Recep Tayyip Erdogan has suggested the development of a new payment system with Russia as an alternative.