Russian lawmakers prepare legal amendments to confiscate cryptocurrencies

According to a senior official, Russian lawmakers are enacting new legislation to allow the government to confiscate cryptocurrencies.

Russia’s Attorney General Igor Krasnov claimed that the government is working on a set of amendments to the country’s criminal law to allow the authorities to confiscate cryptocurrencies obtained from illegal activities, the local news agency TASS Report.

At the meeting of the European National Prosecutor’s Office on Wednesday, Krasnov emphasized that cryptocurrencies like Bitcoin (Bitcoin) Is increasingly used for corruption and bribery. The official stated that cryptocurrency is also a tool for money laundering to embezzle budget funds.

Krasnov said: “The criminal use of cryptocurrency has brought severe challenges to our country.” He claimed Encryption law passed in Russia “About Digital Financial Assets” (DFA) has played a vital role in solving this problem, but the new criminal law amendments will bring additional protection. “This will allow the application of restrictive measures and the confiscation of virtual assets,” Krasnov said.

According to some local industry experts, no amount of legislation will allow the government to confiscate crypto assets. Nikita Soshnikov, former senior attorney of Deloitte CIS and director of Alfacash, told Cointelegraph, “It is clear that digital assets stored in wallets cannot be confiscated like any other type of assets.” “However, there has been a landmark case, FSB. The official was convicted of taking bribes, and the court formally seized 0.1 and 4.70235 BTC as state income,” he pointed out.

Soshnikov said that Russia began to formulate proposals for the confiscation of cryptocurrencies as early as 2019, a few years before the DFA law was passed. “The Attorney General’s Office is still the main stakeholder in the project. In this case, the current statement is only a confirmation of the agreed plan,” he added.

related: Russian officials consider partial lifting of crypto payment ban

Krasnov was the deputy chairman of the Russian Commission of Inquiry and became the country’s attorney general in early 2020. Since his appointment, Krasnov has been a strong opponent of cryptocurrency.Last year, he claimed that cybercrimes in Russia are usually carried out through cryptocurrency, and Increased 25 times Since 2015.In October last year, Krasnov stated that Russian civil servants will Need to declare encrypted assets On the basis of equality with other assets.

A few months after U.S. President Joe Biden (Joe Biden) took office, Krasnov (Krasnov) made another effort to combat crypto corruption in Russia Sanctioned He sued the Russian opposition and Anti-corruption leader Alexei Navalny (Alexei Navalny).

According to local investigations, Krasnov himself had Involved In some disputes related to corruption.