Attorney General wants to see cryptocurrency” in Russian law - regulation

The Attorney General of the Russian Federation insisted that the term “cryptocurrency” should be included in the country's legislation. The move would enable the Moscow authorities to confiscate digital assets that were involved in criminal activities.

The Russian Attorney General prepares changes that enable the seizure of cryptocurrencies

Since cryptocurrencies are only partially regulated by the law "via digital financial investments", in Russia it is worked on enacting laws that introduce the comprehensive rules for the sales of Bitcoin and the like. The Russian General Prosecutor's office has joined these efforts to include the term "cryptocurrency" in the law.

"We have developed additions to a number of regulatory legal files so that cryptocurrencies in the illegal circulation are not only recognized as the subject of a crime, but also a legal possibility of their arrest and confiscation ", said the Russian Attorney General Igor Krasnov in an interview with the Ria Novosti.

The Russian legislature thinks about other changes in the law in order to create an appropriate legal framework for cryptocurrencies. A number of activities in connection with digital coins remain outside the scope of applicable law, including taxes, mining and payments.

Among civil servants in Moscow, demands were made to recognize the mining of cryptocurrencies as an entrepreneurial activity and tax them accordingly. At the same time, the central bank of Russia (CBR) against Legalization of digital currencies as a means of payment. The regulatory authority claims that this "

The currency authority is currently developing a digital version of the national Fiat and insists that this is exactly what the Russians need . The Digital Rubel will also offer a cost-effective and reliable payment that protected personal data Head of CBR, Elvira Nabiullina, in November. The Bank of Russia plans to process for the cbdc in January 2022.

Last month the Russian Attorney General also Recognition of cryptocurrency and other virtual assets as ownership of the country's criminal code. Igor Krasnov explained in the state duma, the lower house of the parliament that the legal definition was used in legal proceedings.