The Attorney General’s Office wants to see “cryptocurrency” in Russian law – Regulating Bitcoin News

The Attorney General’s Office wants to see “cryptocurrency” in Russian law – Regulating Bitcoin News


The Office of the Attorney General of the Russian Federation insisted on adding the term “cryptocurrency” to the country’s legislation. This move will allow the Moscow authorities to confiscate digital assets involved in criminal activities.

Russia’s Attorney General’s Office prepares amendments to allow the seizure of cryptocurrencies

Since the “digital financial assets” law only partially regulates cryptocurrencies, Russia is working hard to pass legislation to introduce comprehensive rules for transactions such as Bitcoin.Russians Attorney General’s Office These efforts were joined because it wanted to add the term “cryptocurrency” to the legal text.

“We have revised many regulatory legal actions so that illegally circulated cryptocurrency is not only recognized as a criminal subject, but there is also a legal possibility of arrest and arrest. Confiscate“Russian prosecutor general Igor Krasnov said in an interview with RIA Novosti.

Russian lawmakers are considering other legislative reforms to establish an appropriate legal framework for cryptocurrencies. Many activities related to digital coins are still outside the scope of current laws, such as taxation, mining and payments.

Moscow officials are increasingly calling for cryptocurrency mining to be treated as an entrepreneurial activity and to tax it. At the same time, the Central Bank of Russia (CBR) be opposed to The legalization of digital currency as a means of payment. The regulator claims that these representatives “Money agent“It is banned in Russia.

The monetary authority is currently developing a digital version of the country’s legal tender and insists that this is Russians need. This Digital ruble CBR head Elvira Nabiullina promised in November that it will provide low-cost and reliable payment solutions while protecting personal data.Bank of Russia plans to start trials Central Business District January 2022.

Last month, the Russian Attorney General’s Office also suggested In the country’s Criminal Law, cryptocurrencies and other virtual assets are recognized as property. Igor Krasnov explained in the State Duma of the Lower House of Parliament that the legal definition will be used in court proceedings.

Krasnov also revealed that his department has drafted a bill to regulate this matter and expressed the hope that legislators can support it. Bitcoin and other digital currencies have been recognized as property by several other Russian laws, such as the Bankruptcy and Enforcement Procedure Law, anti-money laundering legislation, and the country’s anti-corruption law.

Tags in this story

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Do you want Russia to add the term “cryptocurrency” to its legislation? Share your thoughts on this topic in the comments section below.

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