The Russian State Duma passes the cryptocurrency confiscation bill, establishing its property status

Mars Finance reports that, according to Bitsmedia, the Russian State Duma has passed a law in the third and final reading that clearly defines the procedures for confiscating and freezing cryptocurrencies in criminal cases. The bill confirms the legal status of cryptocurrencies as property and requires detailed records of asset type, quantity, and wallet addresses during confiscation. The bill allows the confiscated cryptocurrencies to be transferred to a designated national wallet and authorizes government agencies to cooperate with overseas exchanges to enforce confiscation measures. The bill still requires approval from the Federation Council and the President’s signature, and will take effect 10 days after official publication. Previously, the Russian Constitutional Court had allowed citizens to protect their digital currency rights in court, even if they had not declared them to tax authorities.