Russia seeks foreign help to seize cryptocurrencies

The Russian Prosecutor General’s Office has for the first time sent requests to foreign law-enforcement authorities for legal assistance in seizing cryptocurrencies. This was reported by ТАСС.

Among others, the request was received by law-enforcement colleagues in Kazakhstan.

According to Russia’s Prosecutor-General Igor Krasnov, the number of such requests will rise significantly in the future.

“However, their execution will be impossible if each jurisdiction starts to use its own procedures that are inapplicable in the requested country,” he noted.

Krasnov also warned of persistent risks of using cryptocurrencies to move criminal funds abroad, including those obtained through corruption schemes.

The official urged participants in the Interstate Council for Countering Corruption to consolidate practice in the regulation of the circulation, arrest, confiscation, storage and disposal of digital assets.

As reported, Russian courts in 2022 issued 1,758 decisions, concerning cryptocurrencies. Of these, 463 were in criminal cases, including cases of fraud, embezzlement or misappropriation of funds, money laundering and drug trafficking.

In April 2022, Igor Krasnov stated the need to include digital currencies in criminal law for investigating cases of their theft and the possibility of seizure.

In the same year, the Council of Legislators of the Russian Federation proposed to strengthen the penalties for crimes involving cryptocurrencies.