Russia’s financial monitoring service has commissioned the creation of a system that will be able to track cryptocurrency like bitcoin, allowing Moscow to analyze the behavior of market participants and potentially identify users.

That’s according to Moscow business daily RBK, which also revealed that the tracking service will be created by a subsidiary of SberBank, the country’s largest banking and financial services company.

As per the tender documentation, the service will be able to provide data on the value of a cryptocurrency wallet, as well as track transactions.

The governmental monitoring service, Rosfinmonitoring, plans to use it to follow cryptocurrency chains and analyze behavior, enabling the agency to create a database of cryptocurrency wallets associated with illegal activities and terrorist financing. (RT)