Russia Prepares Bill on Confiscating Cryptocurrencies: Supreme Court Clarifies Details

The Chairperson of Russia’s Supreme Court has revealed progress on legislation that would recognize digital currency as property in criminal proceedings. Under this provision, courts could order cryptoassets confiscated from criminals, including corrupt officials and fraudsters, who have committed offenses involving cryptocurrencies. The bill also paves the way for criminal liability in cases of theft or embezzlement of such assets.

Currently, cryptocurrency is not formally treated as full-fledged property. However, many officials emphasize the importance of accounting for crypto in investigations of illegal enrichment. Experts believe that introducing this bill could tighten regulations and enhance transparency during criminal trials. The new rules are expected to reduce the appeal of gray schemes and streamline law enforcement efforts significantly.

Specialists note that once the law takes effect, authorities will be empowered to demand suspects provide access to blockchain-based wallets. Nonetheless, questions remain regarding the mechanisms for establishing actual crypto valuation and carrying out confiscation, given market volatility and transaction anonymity.