Russian law enforcement agencies have long been able to confiscate cryptocurrencies as part of an investigation, but they usually store them on a physical medium. Now the authorities are preparing a special platform.
State Duma deputies may already approve bills on regulating cryptocurrencies in the country in the spring session. Therefore, the authorities thought about the possibility of using confiscated cryptocurrencies. Now their storage is organized as the storage of ordinary physical evidence, but with the help of a centralized platform for cryptocurrency, the state will be able to dispose of the entire amount of digital assets. That is, after the confiscation of cryptocurrencies, investigators will transfer them to a new state platform.
"To work out the issue of creating a digital currency platform localized on the territory of the Russian Federation and under state control for the purpose of their withdrawal and storage in criminal proceedings. Inform the government commission about the work carried out by October 1, 2024," Interior Minister Vladimir Kolokoltsev said in an order.
The Ministry of Finance will "work on the issue", and the initial initiative to create such a platform came from this department. The initiative is also supported by relevant State Duma committees.
"Life is developing, there are new technologies and tools that need to be used by law enforcement agencies. If they confiscate cryptocurrency, it must be stored somewhere. But obviously, it can't just be placed in a warehouse. A special digital platform created by the state should be created for this purpose. Therefore, the question is absolutely correct, " said Anatoly Aksakov, head of the State Duma Committee on the Financial Market.
Market participants are also in favor of creating a special platform. They note that now the procedure for storing confiscated cryptocurrencies is not regulated, and assets often remain on the accounts of foreign platforms. The state platform will strengthen the state's control over digital assets and reduce the risks of using cryptocurrencies in illegal activities.
State Duma deputies may already approve bills on regulating cryptocurrencies in the country in the spring session. Therefore, the authorities thought about the possibility of using confiscated cryptocurrencies. Now their storage is organized as the storage of ordinary physical evidence, but with the help of a centralized platform for cryptocurrency, the state will be able to dispose of the entire amount of digital assets. That is, after the confiscation of cryptocurrencies, investigators will transfer them to a new state platform.
"To work out the issue of creating a digital currency platform localized on the territory of the Russian Federation and under state control for the purpose of their withdrawal and storage in criminal proceedings. Inform the government commission about the work carried out by October 1, 2024," Interior Minister Vladimir Kolokoltsev said in an order.
The Ministry of Finance will "work on the issue", and the initial initiative to create such a platform came from this department. The initiative is also supported by relevant State Duma committees.
"Life is developing, there are new technologies and tools that need to be used by law enforcement agencies. If they confiscate cryptocurrency, it must be stored somewhere. But obviously, it can't just be placed in a warehouse. A special digital platform created by the state should be created for this purpose. Therefore, the question is absolutely correct, " said Anatoly Aksakov, head of the State Duma Committee on the Financial Market.
Market participants are also in favor of creating a special platform. They note that now the procedure for storing confiscated cryptocurrencies is not regulated, and assets often remain on the accounts of foreign platforms. The state platform will strengthen the state's control over digital assets and reduce the risks of using cryptocurrencies in illegal activities.
