Putin signs new legislation granting Russian courts the authority to confiscate cryptocurrencies such as Bitcoin in criminal investigations

According to Kommersant, Russian President Vladimir Putin has signed a new law that grants Russian courts new powers to confiscate cryptocurrencies in criminal investigations.

The law will amend the Russian Criminal Code to classify cryptocurrencies as a form of intangible property. Elena Ardabyeva, Deputy Minister of Justice of Russia, stated that the law formally incorporates existing digital asset confiscation protocols into the legal framework and provides a legal avenue for cooperation with foreign cryptocurrency exchanges.

The law stipulates that requests for the confiscation of cryptocurrencies made by police or prosecutors must include detailed information such as the type of tokens, quantity, and wallet addresses. Experts suggest that the Kremlin may begin to block citizens' access to foreign cryptocurrency exchanges this year.