The Investigative Committee of Russia has drafted a bill outlining the procedures for the seizure, confiscation, and arrest of digital currencies. This was announced by the head of the agency, Alexander Bastrykin, in an interview with RIA Novosti.
The document proposes amendments to criminal and criminal procedural legislation. For these purposes, cryptocurrencies are recognized as property.
The bill is currently under consideration by the Russian government.
The necessity for such a regulatory act was highlighted by the head of the Investigative Committee back in 2021. In 2022, Bastrykin called for mandatory identification of cryptocurrency owners.
Under current legislation, cryptocurrencies are recognized as property and can therefore be seized in criminal cases as evidence, for compensation of damages, or for confiscation.
At present, investigators seize electronic information carriers or compel the accused to convert digital assets into rubles.
Despite the existing practices of confiscation and arrest of cryptocurrencies, comprehensive rules for such procedures in Russian criminal procedural legislation have yet to be established.
In April 2022, the head of the Russian Prosecutor General’s Office, Igor Krasnov, stated the need to include digital currencies in criminal legislation for investigating theft cases and enabling their seizure.
Previously, the agency prepared regulations that would allow digital assets to be recognized as crime-related items and confiscated.