The legislation of the Russian Federation may be amended on the confiscation of cryptocurrencies

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The Prosecutor General of the Russian Federation Igor Krasnov called “the criminal use of cryptocurrencies in the country” a serious challenge and said that amendments are being prepared to the legislation on the confiscation of digital assets that have become sources of income from crimes. He announced this at a conference of the heads of the prosecutor’s offices of European states, writes TASS.

 

“Currently, work is underway to amend the criminal and criminal procedural legislation. This will allow the application of restrictive measures and confiscation in relation to virtual assets, ”Krasnov said.

 

According to him, cryptocurrencies are also used for corruption purposes:

 

“The latency of these criminal acts has recently been aggravated by the use of cryptoassets as bribes, the performance of cryptocurrency exchange operations as a way of laundering stolen budget funds.”

 

Last year, Krasnov said that criminals widely use cryptocurrencies for illegal activities.

According to Chainalysis, in 2020, crime-related cryptocurrency transactions accounted for 0.34% of the total.

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