Crypto Events
By Dan Saada
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The Russian government is taking another major step in regulating cryptocurrency. A new bill from the Ministry of Justice would legally classify digital currencies, like Bitcoin,…
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On May 19, Russian Deputy Minister of Justice Vadim Fedorov confirmed that the Ministry is working on a law that would give authorities the power to confiscate digital assets in…
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According to Fedorov, the new bill is part of a broader effort to tighten control over the use of cryptocurrencies in illegal activities.
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Cryptocurrencies like Bitcoin have long been attractive to criminals because they offer anonymity and are not controlled by a central authority.
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"Digital currency cannot be physically seized and placed in a safe, as is the case with cash and valuables," said Fedorov.
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Russian officials say that criminals often use cryptocurrencies to sell illegal drugs and conduct other activities on darknet markets.
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This isn't the first time Russia has tried to regulate cryptocurrency use, but the new bill marks a significant shift.
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Under the proposed bill, courts could authorize the confiscation of digital currencies just like they do with other forms of property. This would include:
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Confiscation of physical wallets (USBs, hard drives, etc.)
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Collection of access credentials like private keys and seed phrases
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Legal restrictions on moving funds from wallets
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Potential freezes on blockchain addresses linked to suspects
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This bill represents a rare moment where a government acknowledges the difficulty of handling crypto assets and actively builds a legal framework around them.
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If passed, the law will allow police and investigators to freeze or seize crypto funds directly from users suspected of crimes.
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The Bigger Picture: Russia’s Push to Regulate Crypto
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