Russia’s Supreme Court: Pushing to classify cryptocurrencies as property in criminal cases

Odaily Planet Daily News The Russian Supreme Court is pushing for the classification of cryptocurrencies as property in criminal cases, aiming to strengthen law enforcement's ability to track, freeze and confiscate illegal digital assets. The Supreme Court is participating in the drafting of a "legislative initiative aimed at treating digital currency as property in criminal proceedings," a move that could strengthen law enforcement's ability to deal with crypto-related crimes. It is worth noting that 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 if digital currency was obtained through illegal activities, especially cases involving drug trafficking, exchanging Bitcoin for rubles constituted money laundering. The court's ruling further indicated that cryptocurrencies may fall under 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 a civil rights object, setting a precedent for Russia's legal treatment of digital assets. These early rulings indicate that the Supreme Court is working to incorporate cryptocurrencies into the country's judicial framework. (Bitcoincom.News)