The Chairman of the Investigative Committee of Russia said that the government is considering a bill proposed by him, which spells out the procedure for arrest, confiscation and recognition of cryptocurrency as material evidence.

Alexander Bastrykin explained that the bill confirms the status of cryptocurrency as property that is subject to the Criminal Procedure and Criminal Codes:

“According to the draft, digital currency is recognized as property for the purposes of criminal law, the procedure for confiscation, recognition as material evidence and seizure of this property is determined, and the features of the seizure of digital currency during investigative actions are also listed.”

Bastrykin did not disclose the details of the proposed procedure for handling crypto assets, adding that he was waiting for the document to be approved by the government.

For several years now, Russian courts have recognized digital currency as property, for example, the theft of which is punishable. Bastrykin has also been saying for the last four years that cryptocurrencies need property status in order to be considered objects of theft or bribery.

Earlier, Russian Finance Minister Anton Siluanov said that cryptocurrencies are an unpredictable and volatile instrument in which it is dangerous to store savings.