RATE Group | Russia outlines plans to seize cryptocurrency
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Russia outlines plans to seize cryptocurrency

08 Nov Russia outlines plans to seize cryptocurrency

Posted at 01:08h in Cryptocurrency News by

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Russian authorities are drawing up plans to allow cops to confiscate any cryptocurrency assets linked with crime.

The Ministry of Internal Affairs and other law enforcement agencies are developing proposals for the seizure of cryptocurrencies and other virtual assets from criminals, reports Russian news outlet RBC.

The legal murkiness surrounding crypto in Russia currently hampers law enforcement’s efforts to confiscate digital assets.

Alena Zelenovskaya, head of criminal and administrative law practice at NSA Amuleks, said: “The trend of a constant increase in the number of crimes using virtual assets dictate the need to develop mechanisms for legal regulation and control over the circulation of virtual assets.”

Konstantin Golikov, co-owner and CEO of the Dailyrich.ru platform, told RBC that cryptocurrencies in Russia are a grey area.

He added: “In order to be confiscated, they must be recognised at the legislative level either as a commodity or a cash equivalent.

“If law…

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