Cryptocurrency Arrests and Confiscations Prepared in Russia

The Russian authorities are preparing a legal mechanism for the arrest and confiscation of cryptocurrency and other virtual assets. This was told by the publication of RBC with reference to its own source.

The process is not fast. Until December 31, 2021, it is only planned to develop the necessary proposals. The corresponding order was given on November 1 at the board of the Ministry of Internal Affairs.

The Ministry of Internal Affairs will work on the task together with Rosfinmonitoring, the Prosecutor General’s Office, the Investigative Committee, the Ministry of Justice, the FSB, the Federal Customs Service and the Federal Security Service with the participation of the Supreme Court.

The preparation of such proposals was confirmed by various sources – from the representative of the Group-IB company specializing in the fight against cybercrime, to the member of the State Duma’s expert council and the founder of ANO PravoRobotov Nikita Kulikov. According to Kulikov, the usual practice of seizing property should be applied to virtual assets.