The General Prosecutor’s Office of Russia has prepared a bill according to which cryptocurrencies and digital financial assets will be considered property under the Criminal Code of the Russian Federation and can be confiscated.
How
informs Interfax agency, in his speech to the State Duma, Prosecutor General Igor Krasnov expressed concern that cybercriminals often use cryptocurrencies and the latest financial technologies for illegal activities. Krasnov believes that this is due to insufficiently developed industry regulation.
According to the Law “On Digital Financial Assets (DFA) and Digital Currency”, which entered into force on January 1, 2021, cryptocurrencies can be considered property transferable only in case of divorce, distribution of inheritance or in case of bankruptcy. The Attorney General spoke of the need to amend the criminal and criminal procedure legislation back in July. This would allow for the confiscation of digital assets from criminals, as they increasingly figure in corruption investigations.
“The status of the platforms on which users can trade cryptocurrencies anonymously has not yet been determined. The question of classifying digital financial assets as property for the implementation of criminal proceedings also remains open. Therefore, we have prepared a special bill that will authorize the relevant authorities to seize illegally used cryptocurrencies, ”Krasnov said.
Recall that in October the Russian FSB published a draft order, according to which the department will be able to send requests to organizations working with the CFA and cryptocurrencies to conduct anti-corruption investigations.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.