Russian Law Establishes Procedures for Cryptocurrency Seizure in Criminal Cases

Russia's State Duma has passed a law in its third and final reading that outlines the procedures for the seizure and freezing of cryptocurrencies in criminal cases. According to ChainCatcher, the legislation confirms the legal status of cryptocurrencies as property and mandates detailed documentation of asset types, quantities, and wallet addresses during confiscation. The law permits the transfer of seized cryptocurrencies to designated state wallets and authorizes government agencies to collaborate with overseas exchanges to enforce seizure measures. The bill requires approval from the Federation Council and the President's signature before it becomes effective 10 days after official publication. Previously, the Russian Constitutional Court allowed citizens to protect their digital currency rights in court, even if they had not declared them to tax authorities.