Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Russia drafts bill to treat Bitcoin, digital currencies as property for seizure
    Cryptocurrency

    Russia drafts bill to treat Bitcoin, digital currencies as property for seizure

    May 21, 20252 Mins Read


    Key Takeaways

    • Russia’s Ministry of Justice is building a framework to control and confiscate digital currencies tied to illicit activity.
    • The proposed legislation aims to address challenges in confiscating digital assets by allowing law enforcement to seize access codes and block transactions.

    Share this article







    Russia’s Ministry of Justice has drafted a bill that would formally treat digital currencies, like Bitcoin, as property that can be seized and confiscated in criminal investigations, as announced by Vadim Fedorov, Russian Deputy Minister of Justice, during a legal forum focused on the challenges posed by new technologies.

    The bill, first reported by TASS, would allow law enforcement to seize physical devices, such as hardware wallets or storage drives, that contain access to digital currencies. It would also enable investigators to request court orders to block crypto transactions.

    “It [the bill] proposes special requirements to ensure the security of such assets — depending on the specific characteristics of the digital currency, an investigator would be able to seize a physical device containing access codes or request a court-imposed ban on transactions,” Fedorov said.

    The proposed legislation is part of the Russian government’s effort to modernize its criminal justice tools in response to the growing role of digital assets in financial crime.

    Fedorov said that authorities aim to close legal loopholes that currently make it difficult for law enforcement to deal with crypto assets involved in crime.

    Recognizing the technical complexity of handling crypto, the bill calls for the involvement of specialists who can determine how best to secure digital assets while ensuring they remain intact for future confiscation or victim compensation.

    The bill is under preparation for a first reading in the State Duma, Russia’s lower house of parliament.

    Share this article









    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Is a Cryptocurrency Market Crash on the Horizon?

    Cryptocurrency

    Pakistan at risk of FATF grey list return over digital transactions, warns Pak Finance Minister Aurangzeb – World News

    Cryptocurrency

    FinMin raises alarm over unregulated digital deals

    Cryptocurrency

    MEDIROM launches cryptocurrency strategy with next-generation proof of human technology, World

    Cryptocurrency

    Ethereum Shatters Records, Surges 250% From April Lows, Why Is Cryptocurrency Rising? | Cryptocurrency News

    Cryptocurrency

    How the digital euro could change the way people pay

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    New Twisted Metal Classics Both Offer PS5, PS4 Platinum Trophies

    Commodities

    record level lost as lower commodities and US market bite

    Investments

    Japanese investments in Israeli tech fall by a third amid war

    Editors Picks

    NSE, BSE to remain closed for 3 days this week; check details

    April 27, 2025

    A-Mark Precious Metals Announces Quarterly Cash Dividend and the Closing of Its Acquisition of AMS Holding, LLC

    April 4, 2025

    Hawaii agriculture board advances new rules to fight invasive species

    October 24, 2024

    FEATURE: Brazil hopes to step up efforts to launch compliance carbon market by COP30

    October 18, 2024
    What's Hot

    JEMA 2025 : des démonstrations gratuites des techniques d’orfèvrerie à l’atelier Camille Orfèvre

    March 17, 2025

    First Property Group prévoit un bénéfice avant impôts supérieur aux prévisions du marché pour l’exercice

    April 22, 2025

    Bénéfice en hausse au premier trimestre pour Barwa Real Estate

    April 29, 2025
    Our Picks

    3 Utility Stocks to Buy as Winter Approaches

    October 19, 2024

    Private Equity-Venture Capital investments in Tamil Nadu surge during first quarter of 2025

    April 1, 2025

    How French police freed a cryptocurrency hostage whose finger was severed

    May 5, 2025
    Weekly Top

    Dream11 parent Dream Sports testing Dream Money App to enter fintech sector

    August 24, 2025

    Pakistan at risk of FATF grey list return over digital transactions, warns Pak Finance Minister Aurangzeb – World News

    August 24, 2025

    the nu-metal giants keep the hits rollin’ in

    August 24, 2025
    Editor's Pick

    Le festival métal L’Impar’Fest de retour avec quatre groupes à Alençon

    May 21, 2025

    Simon Property Group, Inc. : Piper Sandler réitère son opinion positive sur le titre

    May 23, 2025

    Crypto Revolution in Roulette: Old Game, New Tech

    March 29, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.