​The Prosecutor General's Office of Russia has drafted regulations for the confiscation of illegally obtained cryptocurrency

The agency also advocates the introduction of the concept of “cryptocurrency” into the criminal law space.

What’s new? Prosecutor General of Russia Igor Krasnov has said that the country is developing laws that will regulate the circulation of cryptocurrencies. They aim to legally enable the arrest and confiscation of virtual assets that are in illegal circulation. This is reported by RIA Novosti.

Material on the RIA Novosti website

What did the official say? According to the Prosecutor General, the agency also advocates the introduction of the concept of “cryptocurrency” into the criminal law space.

“Even though judicial practice in criminal cases follows towards recognizing cryptocurrencies as property, that is, the subject of a bribe, it still cannot be recognized as a sufficient circumstance to form a unified and sustainable law enforcement,” Krasnov stressed.

What had happened before? In November, the Prosecutor General's Office drafted a bill to recognize cryptocurrencies and other digital assets as property for proceedings under the Criminal Code.