Prosecutors urge Russian government to allow them to have crypto wallets.
During the meeting, organized by the Committee on Constitutional Legislation and State Building at the Federation Council, the upper house of parliament, Dolgieva remarked that courts are still making conflicting decisions — while some recognize crypto as property, others don’t.
Cryptocurrencies are yet to be comprehensively regulated in Russia, with the current law “On Digital Financial Assets,” which went into force in 2021, answering a limited set of questions. A bill introducingConfiscating a physical wallet with virtual assets, for example, is only half the job as the crypto still needs to be cashed out, Madina Dolgieva elaborated.
The prosecutor considers it necessary to allow investigating authorities to open their own wallets and convert the cryptocurrency, the circulation of which has markedly increased in the Russian Federation after the government introduced restrictions on fiat transfers abroad in February of this year. The suggestion comes despite the Central Bank of Russia being opposed to legalizing crypto transactions in the country. The monetary authority
the draft law filed with the Duma under the condition that even mining rewards will be exchanged outside the country or exclusively under special ‘experimental legal regimes’ inside Russia.
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