📰 Table Of Contents
Russian Government’s Initiative
The Russian government, under the leadership of Minister of Internal Affairs Vladimir Kolokoltsev, is developing a platform to facilitate the seizure and storage of confiscated cryptocurrencies by law enforcement agencies.
Platform Development Instructions
An official document seen by the media outlines instructions for the Ministry of Finance to explore the creation of this platform. The Ministry is required to provide a progress report by October 1, 2024.
Commission on Crime Prevention
The Commission on Crime Prevention, chaired by Kolokoltsev, is behind the initiative. The platform aims to enable courts, prosecutors, and bailiffs to seize tokens in the context of criminal proceedings.
Government’s Confirmation
The Ministry of Internal Affairs confirmed the authenticity of the document and stated that the Ministry of Finance had initiated the proposal. However, the Ministry of Finance did not respond to media inquiries regarding the matter.
Regulatory Concerns
A Russian lawmaker criticized Moscow for its lack of crypto regulation, highlighting the significant use of cryptoassets in the country’s illicit markets. This comes after the Financial Action Task Force downgraded Russia’s compliance due to inadequate regulation of virtual assets.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
