The issue will be resolved before the fall
Russia plans to create a state digital platform for storing confiscated cryptocurrency in criminal cases. Minister of Internal Affairs Vladimir Kolokoltsev instructed the Ministry of Finance to work on this issue until October 1, 2024.
The initiative was proposed by the Ministry of Finance and received support in the relevant committees of the State Duma. According to the head of the State Duma Committee on the Financial Market, Anatoly Aksakov, the emergence of new technologies and tools requires the adaptation of law enforcement agencies. He noted the need to create a special state digital platform for storing confiscated cryptocurrency.
Deputy head of the State Duma Committee on Information Policy Anton Gorelkin also supported the idea, pointing out the lack of legislative status for cryptocurrency, despite judicial precedents considering it as property. He expressed hope for the introduction of this financial instrument into the legislative field by the end of the year, noting that even in a legal vacuum there are no obstacles to the creation of such a platform.
The legislative status of cryptocurrency has not been determined today. Nevertheless, a practice is developing when it is considered as property. This is exactly how the courts define it today when they make decisions on confiscation. Since there are already judicial precedents, it is quite logical to create such a special platform where these assets could be stored.
Anton Gorelkin
Meanwhile, the cryptocurrency market is undergoing a correction, during which Bitcoin rolled back from $73,000 to $67,000.