The Prosecutor General's Office of Russia proposes to include cryptocurrency as property in the Criminal Code

According to the head of the department, the number of crimes committed through financial technologies is increasing in the country

17.11.2021 - 09:30

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According to the head of the department, the number of crimes committed through financial technologies is increasing in the country.

What’s new? The Prosecutor General's Office of Russia has drafted a bill to recognize cryptocurrencies and other digital assets as property for proceedings under the Criminal Code. This was announced by the head of the department Igor Krasnov, reports Interfax.

Material on the Interfax website

What did Krasnov report? According to the head of the Prosecutor General's Office, the number of crimes committed through financial technologies is increasing in Russia. Krasnov believes this is because of gaps in

the legal regulation of the virtual asset market. “The status of online platforms providing an opportunity to buy and sell cryptocurrency anonymously is still not defined, the issue of classifying virtual assets as property, for the purposes of criminal proceedings, has not been resolved. We have proactively prepared the relevant bill,” he stressed.

What had happened before? On January 1, 2021, the law “On Digital Financial Assets” came into force in Russia. It recognizes cryptocurrencies as property and prohibits using them to pay for goods and services within the country.

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