Media: the Prosecutor General’s Office proposed to allow investigative bodies to open crypto wallets for confiscated cryptocurrency

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Russian investigative agencies, including the Federal Bailiff Service, may be allowed to establish crypto wallets or accounts by a government decree so that they can withdraw and cash confiscated or seized cryptocurrency into state revenue. A representative from the Prosecutor General’s Office made the proposal. A bank account is usually required to withdraw the fiat value of seized assets, and crypto may require exchanges that could result in devaluation or legal problems. This proposal aims to eliminate the bureaucratic obstacles and streamline the collection of crypto-related state revenue.

Media: the Prosecutor General’s Office proposed to allow investigative bodies to open crypto wallets for confiscated cryptocurrency

A representative of the Prosecutor General’s Office proposed that a government decree would allow investigative agencies, including the Federal Bailiff Service (FSSP), to set up crypto wallets or accounts to withdraw and cash into state revenue confiscated or seized cryptocurrency.
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