On February 18, the Federation Council of Russia approved a bill establishing the procedure for the arrest and seizure of digital currency within criminal proceedings. The new provisions will enter into force 10 days after the official publication of the law.
The main innovation lies in recognizing digital currency as property in the context of criminal legislation. This removes legal barriers and facilitates the imposition of restrictions on such assets.
In accordance with the new law, investigators will now be able to officially demand the suspension of any operations involving seized cryptocurrencies. When digital assets are seized, the report must specify the type of currency, the amount, and the identifier addresses.
Storage media or access to cryptocurrency must be kept in sealed form. For safekeeping, digital assets may be transferred to a special address, the procedure for whose transfer and storage will be determined by the government of the Russian Federation.
Deputy Minister of Justice Elena Ardabyeva previously clarified that the law formalizes the already existing practice of seizing digital assets both from "cold wallets" (by confiscating devices) and from "hot" ones, through obtaining keys, creating screenshots, and recording data. Cooperation with foreign crypto exchanges is also provided for, which will open up new opportunities for law enforcement agencies.
Read more materials on the topic:
- The Central Bank revealed details of future cryptocurrency regulation: from 2027, unlicensed operations will become illegal
- Cryptocurrency will not become a reserve asset of the Central Bank of the Russian Federation
- The Ministry of Finance and the Central Bank agreed on the legalization of cryptocurrency settlements in foreign economic activity