Russia drafts law on seizure of crypto assets – regulating Bitcoin News

Russian Attorney General Igor Krasnov has announced that legislative changes are being prepared to seize crypto assets. “A serious challenge is the criminal use of cryptocurrencies in our country,” he said.

  • Russia is preparing changes to current legislation to allow the seizure of crypto assets, which are the proceeds of crime, Tass reported on Wednesday.
  • The announcement came from the Prosecutor General of the Russian Federation, Igor Krasnov. He spoke on Wednesday at a conference of the heads of prosecutors of European states in St. Petersburg. The event is jointly organized by the Council of Europe and the International Association of Prosecutors.
  • Krasnov said virtual assets have become a source of income for criminals, stressing that cryptocurrencies are used for corruption, including bribery. “The latency of these criminal acts has recently been exacerbated by the use of crypto assets as bribes,” he claimed, adding that cryptocurrency exchanges have been used as “a way to launder stolen funds.”

  • The Attorney General noted that the passage of the Digital Assets Act in July last year was “a significant step in overcoming this problem.” He was quoted as saying:

A serious challenge is the criminal use of cryptocurrencies in our country … We are currently working on an amendment to the criminal procedure legislation.

What do you think of a Russian bill allowing the seizure of crypto assets in criminal proceedings? Let us know in the comment section below.

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