Russia Introduces Bill Classifying Bitcoin and Crypto as Property for Seizure Under Criminal Code

The Russian Ministry of Justice has introduced a new bill aiming to classify Bitcoin and other cryptocurrencies as property under the Criminal Code. This legislative move is intended to facilitate the seizure of digital assets in criminal cases. Deputy Minister Vadim Fedorov highlighted the challenges of confiscating digital currencies due to their decentralized and anonymous nature, which prevents physical seizure. The bill seeks to clarify confiscation procedures and impose special safety measures for handling such assets. This development is part of a broader effort by Russian authorities to regulate digital assets more effectively amid increasing integration between digital asset ecosystems and traditional finance. The Ministry’s initiative reflects ongoing concerns about transparency and risk assessment in the crypto sector, as well as a crackdown on local payments involving cryptocurrencies.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.