ARMA will cooperate with leading crypto-currency exchange markets exchanging to be used for tracing assets

ARMA will cooperate with leading crypto-currency exchange markets exchanging to be used for tracing assets

What does it mean?

The National Agency of Ukraine on Recovery, Tracing, and Management of Assets obtained from corruption and other crimes (Asset Recovery and Management Agency, ARMA) informed that thanks to this cooperation, the ARMA will be able to get identification details of a crypto wallet’s owner.

Unfortunately, wrongdoers of today quite often rely on cryptocurrencies for settlements in criminal actions, including illegal income legalization and laundering.

This communication between exchange markets and ARMA shall help recover additional facts about the existence of digital and virtual assets belonging to those involved in criminal proceedings. Besides, ARMA shall provide law enforcement authorities with information for arresting the revealed crypto-currency assets.

What does the identification of a crypto wallet owner mean?

Having legal grounds, ARMA will be able to receive the following details:

• IP addresses;
• Name and ІМЕІ of a device used to access a crypto–currency exchange market account;
• Identity documents;
• E-mail addresses;
• Details of transactions;
• The existence of additional crypto wallets and bank accounts used to replenish crypto wallets;
• Details of bank accounts where the owner sends funds and other information.