Russia's Supreme Court is pushing to classify cryptocurrency as property in criminal cases
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On February 22, according to News.bitcoin, citing TASS, the Russian Supreme Court is pushing to classify cryptocurrencies as property in criminal cases, aiming to strengthen the ability of law enforcement to track, freeze and confiscate illegal digital assets. The Supreme Court is involved in drafting a “legislative initiative to treat digital currencies as property in criminal proceedings”, a move that could strengthen law enforcement’s ability to deal with crypto-related crimes.
This is not the first time that the Russian Supreme Court has dealt with cryptocurrency issues in legal proceedings. In 2019, the court ruled that converting Bitcoin into rubles constitutes money laundering if digital currencies are obtained through illegal activities, especially in cases involving drug transactions. The court's ruling further demonstrates that cryptocurrencies may fall within the jurisdiction of existing anti-money laundering laws. In addition, in 2021, the court ruled that the electronic currency WMZ used in the Webmoney Transfer system was legally recognized as an object of civil rights, setting a precedent for Russia's legal handling of digital assets. These early rulings suggest that the Supreme Court is working to incorporate cryptocurrencies into the country’s judicial framework.