June 18, 2024

The legal mechanism for the seizure of cryptocurrencies will appear in Russia before the end of 2021

The Russian Ministry of Internal Affairs announced that the legal mechanism for seizing cryptocurrencies, over whichthe department and several other government agencies are working, it will be presented before the end of 2021.

“In the decision of the board of the Ministry of Internal AffairsRF, a clause has been included that provides for instructions to interested units of the Ministry of Internal Affairs of Russia, in cooperation with federal executive authorities with the participation of the Supreme Court of the Russian Federation, to formulate proposals on a legal mechanism for the seizure of virtual assets for the purpose of their confiscation by the end of 2021,” — the message says.

The Ministry of Internal Affairs is working on a mechanism for the seizure of crypto assets together with Rosfinmonitoring, the General Prosecutor's Office, the Investigative Committee, the Ministry of Justice, the FSB, the Federal Customs Service and the Federal Security Service, with the participation of the Supreme Court.

For the first time on the development of a mechanism for the arrest of cryptocurrenciesin Russia it became known in early November. Then it was noted that the number of crimes using crypto assets is steadily growing, therefore, it is necessary to develop an appropriate mechanism for their confiscation by court decision.

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