The Prosecutor General of the Russian Federation Igor Krasnov believes that for the stable enforcement of the law on the confiscation of cryptocurrencies, it is necessary to clarify the legislation on regulating digital assets.
Igor Krasnov
reportedthat judicial practice on criminal offenses is moving towards the recognition of digital currency as property. This means that cryptocurrency can be viewed as a bribe. According to him, this status is not enough to consider such a status as a circumstance for the creation of a unified and sustainable law enforcement. The Prosecutor General of the Russian Federation believes that it is necessary to enter the concepts of cryptocurrencies and other digital assets into the Criminal Code through the introduction of relevant requirements into the law on the regulation of cryptocurrencies.
Krasnov said that the General Prosecutor’s Office has finalized the regulatory legal acts so that digital assets used in illegal circulation are not only recognized as a means of crime, but also there was a legal possibility of their arrest and confiscation. He added that in Russia, various authorities are now working on legislation regulating the crypto industry. Only after the law starts to work will it be possible to effectively confiscate illegally obtained cryptocurrencies.
In July, Russia’s Prosecutor General Igor Krasnov spoke about the work on amendments to the legislation allowing the confiscation of digital assets used for illegal purposes. In March, Russian President Vladimir Putin instructed the Russian Prosecutor General’s Office and Rosfinmonitoring to take measures to prevent illegal international transactions with digital financial assets (DFA). Back in 2019, the Ministry of Internal Affairs of the Russian Federation, together with other departments, began to prepare a proposal to create a legal mechanism that would allow seizing virtual assets with the aim of confiscating them.
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