Investigative committee of Russia defines procedure for seizing cryptocurrencies

The Investigative Committee of Russia has presented a draft law that establishes the procedure for seizing, confiscating, and arresting digital currencies. This was stated by the head of the agency, Alexander Bastrykin, as reported by RIA Novosti.

The document will amend criminal and criminal procedural legislation. As a result, cryptocurrencies will be recognized as property. The draft law is currently under consideration by the Russian government. The need for such regulatory measures has been discussed by the Investigative Committee since 2021. In 2022, Bastrykin called for mandatory identification of cryptocurrency owners.

Under current legislation, cryptocurrencies are recognized as property and can be seized within the framework of criminal cases as evidence, for the purpose of compensation for damages, or for confiscation.

Earlier, we reported that cryptocurrency exchanges in Russia will be required to store all their clients' data and provide it to law enforcement authorities when necessary.