Russian researchers are lobbying the Moscow parliament and government for permission to open their own cryptocurrency wallets. This would allow law enforcement to seize digital assets during criminal cases and eventually sell them, something authorities in the US and Europe already do.
Russian Prosecutors Lobby For Powers To Seize And Auction Cryptocurrency
The Office of the Prosecutor General of the Russian Federation proposes to allow investigative bodies to set up crypto accounts and wallets under their control to store seized digital currencies that can then be sold for the benefit of the state.
Speaking at the Federation Council, the upper house of the Russian parliament, a representative of the Office’s Main Criminal Prosecution Department, Madina Dolgieva, insisted that there is no need to change the law to grant such powers.
“The General Prosecutor’s Office has always advocated for the development and optimization of the forfeiture mechanism as another procedural measure,” Dolgieva said during a roundtable discussion. The Interfax news agency quoted her as saying:
We may allow investigating authorities to open their own cryptocurrency accounts and wallets.
This can be done through a government decree, Dolgieva explained. “There is no need to make changes to the Criminal Procedure Law because this is a long process,” the law enforcement official explained.
He also believes that it is necessary to issue a separate government decree or amend the current law governing enforcement procedures to authorize the Russian Federal Bailiff Service to auction seized cryptocurrency.
Dolgieva made the suggestions after the head of Russia’s Prosecutor General’s Office, Igor Krasnov, demanded earlier this week that cryptocurrency exchanges serving Russian clients be required to register in the country and share data. of users with Russian law enforcement agencies.
Krasnov also urged the adoption of more comprehensive regulations for digital assets in Russia, insisting that the mere recognition of cryptocurrencies as property is not enough to combat criminal flows in the current difficult international situation, which he believes increases the risks of exploiting vulnerabilities. through cryptocurrencies.
US and European law enforcement agencies have already established procedures to seize and sell crime-related crypto assets. Days ago, the US Department of Justice said it had seized more than $112 million worth of cryptocurrency linked to fraudulent investment schemes. In July last year, the Finnish customs service announced that it had sold confiscated bitcoins worth more than $50 million.
Do you think the Russian government will allow prosecutors and investigators to open cryptocurrency wallets? Tell us in the comment section below.
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