Russian prosecutors are absolutely convinced that investigative authorities, among other government bodies, should have the right and be able to establish and seize crypto wallets and deposit and exchange digital coins into fiat money. in which the head of the Office of the Prosecutor Madina Dolgieva from the Department of Justice explains in a commentary on e-justice on the roundtable discussion that the Office of the Prosecutor General has advocated the recognition of digital assets as property and certainly if it If confiscated, it would have started to be criminally acquired.
When a meeting was organized by the Committee on Constitutional Legislation and State Building in the Federation Council, the upper house of parliament, he remarked that the courts are still not on the same page and are making conflicting decisions with some recognizing crypto as property. and some do not support it and if we talk about the current law it is with On Digital Financial Assets and crypto is yet to be enacted widely in Russia i.e. it is yet to be exchanged by the lower house of the Russian Legislature State A bill to amend the Duma is currently seen under review.
If we go by example, confiscating a physical wallet with a virtual asset is not only a bit of work and crypto still requires the completion of cash out where we can see that the problems start from domestic The exchange is not yet licensed, so the prosecutor’s office cannot use foreign platforms.
Prosecutors consider it necessary to allow investigative officers to open their own wallets and convert cryptocurrencies, the circulation of which has increased significantly in the Russian Federation, and the government banned fiat transfers abroad in February this year. It’s over
The suggestion comes in the wake of protests by Russia’s Central Bank to fine-tune and legalise crypto transactions in the country, and the law has agreed to the condition that mining rewards be transferred outside the country or exclusively to Russia will be exchanged under a special experimental law regime within. We can say that really government agencies need to have access to the wallet and take the first step towards controlling the exchange and regulate it under a secure act and in this regard to the government It also has a provision to recognize crypto currency as property and allow it to be held in digital wallets and use of crypto exchange where it is necessary to say that if the agency has access to the desired, it will certainly be beneficial to them. where it may use the Exchange in the manner it pleases on a permitted basis and may provide facilities such as wallet holding and digital transfer and passing of transactions and permission to use the same has been requested by him.