Russian Supreme Court Seeks To Classify Cryptocurrency As Property In Criminal Cases

According to PANews, the Russian Supreme Court is advocating for the classification of cryptocurrencies as property in criminal cases. This initiative aims to enhance law enforcement's ability to track, freeze, and confiscate illegal digital assets. The court is involved in drafting legislation to recognize digital currencies as property in criminal proceedings, thereby strengthening the handling of crypto-related crimes. This is not the first time the Russian Supreme Court has addressed cryptocurrency issues in legal proceedings. In 2019, the court ruled that converting Bitcoin into rubles constitutes money laundering if the digital currency was obtained through illegal activities, particularly in drug-related cases. This decision indicated that cryptocurrencies could fall under existing anti-money laundering laws. Furthermore, in 2021, the court recognized the electronic currency WMZ, used in the Webmoney Transfer system, as a legal civil rights object. This set a precedent for the legal treatment of digital assets in Russia. These earlier rulings demonstrate the Supreme Court's efforts to integrate cryptocurrencies into the country's judicial framework.