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Saturday, Jul 31, 2021

Russia to Introduce Rules for Confiscating Crypto

Russia to Introduce Rules for Confiscating Crypto

Russia is preparing legislation to allow law-enforcement agencies to confiscate illegally obtained cryptocurrencies, Prosecutor General Igor Krasnov said, according to TASS.
Speaking at conference in Saint Petersburg, Krasnov said cryptocurrency use by criminals is a serious issue for law enforcement. The country passed its first law regulating the digital assets last year. Now, the criminal and penal codes are being updated to allow law enforcement to “apply restrictive measures and confiscation to the virtual assets,” he said.

According to Krasnov, crypto is increasingly used for bribery, making it even harder to trace than with the fiat money.
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