Russia is considering creating a special fund for confiscated cryptocurrency, aiming to allocate proceeds toward social initiatives.
Proposal for a Special Fund
The plan envisions that confiscated cryptocurrency would be held in a special fund. It is expected to grow in value, with proceeds directed toward social, environmental, and educational projects.
Public Support
Yevgeny Masharov from the Public Chamber expressed support for the initiative. He noted that it's better for seized digital assets to benefit the state rather than remain unused.
Potential Legislative Changes
The initiative aligns with a bill submitted by Russia’s Ministry of Justice and the Investigative Committee to classify cryptocurrency as property and material evidence. Masharov emphasized the importance of removing illicit crypto holdings from circulation to ensure their constructive use.
If enacted, the proposal could create a structured approach for handling digital assets linked to criminal activity while integrating them into Russia’s broader financial system.
