Ministry of Justice of Belarus defined the procedure for confiscation of cryptocurrencies

The resolution will go into effect on May 17, 2022

19.04.2022 - 16:30

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What’s new? The Ministry of Justice of Belarus has adopted a resolution specifying the procedure for the confiscation of cryptocurrencies in the framework of enforcement proceedings. Authorities conducting criminal proceedings must keep records of seized or arrested cryptocurrencies. The press service of the department explained that the document was adopted to implement the Decree "On the register of addresses (identifiers) of virtual wallets and features of the circulation of cryptocurrency", which came into force on February 14. The resolution will come into effect on May 17, 2022.

Information on the website of the Ministry of Justice

What does the decree say? The document states that the cryptocurrency confiscated in the course of criminal proceedings should be taken into account and implemented. The website of the President of Belarus says the following:

"This norm is designed to protect participants in the digital asset market from the loss of property and prevent unintentional involvement in activities prohibited by law."

What had happened before? On February 14, President of Belarus Alexander Lukashenko signed a law regulating activities in the field of cryptocurrencies. The document states that the free circulation of digital currencies is allowed in the country. The law also implies the creation of a register of virtual wallet addresses used in illegal activities.

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