Fedorov believes that now in the Criminal and Criminal Procedure Code the status of digital currency is not fixed, which complicates the investigation of criminal cases related to cryptocurrency crimes and the provision of property requirements.
To solve procedural problems in the new bill, digital currencies are attributed to property, which allows the use of criminal law measures necessary for arrest or confiscation, Fedorov assured.
“According to the new rules, the investigator will be able to withdraw a hardware cryptocurrency wallet or other carrier with access codes to digital assets, as well as ask the court to establish a ban on the operation or establish other special requirements aimed at ensuring the safety of funds, taking into account the characteristics of a specific digital currency,” Fedorov said.
The Deputy Minister of Justice added that the bill is preparing for the consideration of the State Duma in the first reading. The Ministry of Justice believes that in the case of the adoption of the bill, the risks associated with the turnover and use of the digital currency in criminal activity can decrease significantly.
Vadim Fedorov said that earlier the Russian Government Commission on billing activities approved the mechanism proposed by the Ministry of Justice, allowing investigators to seize cryptocurrency in the framework of criminal cases.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
