The Federal Bailiff Service of Russia is actively developing mechanisms to convert confiscated bitcoins into state revenue.
Legal Initiative
Dmitry Aristov, head of the FSSP, announced during a session of the Federation Council Committee on Constitutional Legislation and State Building about developing mechanisms to convert confiscated bitcoins. This announcement was made in the context of discussing a new legal precedent.
Challenges of Cryptocurrency Confiscation
Aristov explained the difficulties of seizing bitcoin and other cryptocurrency forms, which he categorized as 'problematic assets'. Discovering bitcoins during an investigation requires law enforcement to find viable ways to sell these assets.
Need for New Laws
Aristov emphasized the need for new laws to control the distribution and administration of digital assets across national territory. The Russian government seeks a comprehensive strategy to confiscate and manage cryptocurrencies. Alexander Bastrykin issued a bill categorizing cryptocurrencies as criminal law properties.
Creating legal regulations and mechanisms to manage confiscated cryptocurrencies in Russia is a pressing issue requiring attention and effort from various government bodies.
