Russian Federation suggests that investigators should have wallets for the confiscation of cryptocurrencies
The representative of the General Prosecutor’s Office noted that a government decree could authorize this procedure
10.04.2023 - 07:20
272
3 min
0
What’s new? The Prosecutor General’s Office of the Russian Federation proposed to allow investigative authorities to start cryptocurrency wallets or accounts to seize digital assets and turn them into the country’s budget. Madina Dolgiyeva, the representative of the Main Criminal Procedural Department of the Prosecutor General’s Office, said at a speech in the Federation Council that this could be done “through a government decree” without resorting to a lengthy process of amending the law of criminal procedure, Interfax reports.
What else did the Prosecutor General’s Office say? According to Dolgiyeva, there is also a need to amend the law on enforcement proceedings, so that after the arrest, the Federal Bailiff Service could sell the seized cryptocurrencies. She specified that the realization of the confiscated assets may be regulated both by making changes in the law on enforcement proceedings and by an additional government decree.
Earlier, Prosecutor General Igor Krasnov called for obliging crypto platforms to hand over data to law enforcement agencies to regulate the turnover of digital assets that can be used to finance terrorism.
Echoes of Silk Road. How the largest cryptocurrency confiscation in history took place
Who was behind the hack of the first illegal marketplace, and what happens to the seized cryptocurrencies
Rosfinmonitoring noted that by early March, cryptocurrency turnover in Russia exceeded 630 000 BTC (1 trillion Russian rubles (RUB) at the time).
The Ministry of Finance proposed to introduce penalties in the form of fines of up to 1 million RUB and imprisonment for up to seven years for illegal operations with cryptocurrencies. Also, the department proposed to oblige miners to declare their income, and in case of violation, they could face up to four years in prison.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 750
BTC
+1.18%
-
Ethereum
$3 379.75
ETH
+7.67%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.39
XRP
+22.76%
-
Dogecoin
$0.392802
DOGE
+1.9%
-
Cardano
$0.863081
ADA
+9.91%
-
Bitcoin Cash
$490.6
BCH
-6.1%
-
Polkadot
$6.1
DOT
+6.99%
-
Stellar XLM
$0.282747
XLM
+15.33%
-
Litecoin
$90.51
LTC
-0.05%