TechFlow News: On February 11, according to Bitsmedia, Russia’s State Duma passed a law in its third and final reading that explicitly defines procedures for confiscating and freezing cryptocurrencies in criminal cases. The bill affirms the legal status of cryptocurrencies as property and mandates detailed documentation—including asset type, quantity, and wallet address—upon confiscation. It permits confiscated cryptocurrencies to be transferred to a dedicated state-controlled wallet and authorizes government agencies to cooperate with overseas exchanges to enforce confiscation measures. The bill still requires approval by the Federation Council and the President’s signature, and will enter into force 10 days after its official publication. Previously, Russia’s Constitutional Court had ruled that citizens may assert and protect their cryptocurrency rights in court—even if such assets have not been declared to tax authorities.
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