The Investigative Committee of Russia (IC) has presented a draft law that recognizes digital currency as property and determines the procedure for its arrest.
Currently, the draft law of the RF IC on the status of cryptocurrency and the procedure for its confiscation is under consideration by the government, writes “RIA“
Digital currency as property for the purposes of criminal law
Chairman of the RF Investigative Committee Alexander Bastrykin said that the need to recognize digital currencies as property for the purposes of criminal legislation has been discussed since 2020.
According to him, this will allow the same legal procedures to be applied as for traditional assets, for example, in cases of embezzlement, bribery or tax evasion.
Bastrykin emphasized that recently cryptocurrency has been increasingly used as a means of crime: for money laundering, terrorist financing and other illegal schemes.
Recognizing digital assets as property will give law enforcement the ability to arrest and seize them as part of an investigation. The draft law describes the entire confiscation procedure. The establishment of clear legal procedures in this area will help to quickly resolve issues related to cryptocurrencies, says the Chairman of the RF Investigative Committee.
Last fall, Russian collectors began developing procedures for confiscating cryptocurrency. The director of the collection agency “ABK” noted that debtors’ assets are often stored in digital form. However, there is no established procedure for the seizure of such assets.
This spring, it was reported that Russia was developing a state platform for confiscated crypto. Permission was given by the Minister of Internal Affairs Vladimir Kolokoltsev, and the author of the initiative was the Ministry of Finance of the Russian Federation.
A recent survey showed that every fifth Russian has used crypto at least once in his life. However, the adoption rate of digital assets remains extremely low.
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Source: Cryptocurrency
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