Russia plans to use the cryptocurrency confiscated in criminal procedures “for the benefit of the State”. The country can move forward with plans to establish a government-consuming government fund using assets confiscated from the criminal procedure.
March 20, 2025, Evgeny MasharovA member of the Commission of the Public Chamber of the Russian Federation for the public examination of bills and regulatory acts, said that a special fund could be created “on the balance of which these cryptocurrencies (confiscated) would be kept.”
Masharov insisted that the capitalization of the “funds” would increase considerably over time.
According to Masharov, on the one hand, this will help eliminate the property acquired from traffic, on the other hand, it will have a specific objective.
“Later, income received from the placement of cryptocurrencies can be used for social, environmental and educational projects,” said Masharov.
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Russia clings to include bitcoin in the strategic reserve, a future possible re -examination
RUP:
Russia does not declare any intention to include Bitcoin in its strategic reserves. pic.twitter.com/6nqjo8aymp
– ash crypto (@ashcryptoral) March 5, 2025
Russia does not declare any intention to include Bitcoin in its strategic reserves. Recently, the Russian Ministry of Finance revealed that it did not currently plan to include cryptocurrencies in the strategic reserve due to volatility problems.
However, the vice minister of finance Vladimir Kolychev suggested that this position could change once the liquid assets of the fund are reaching a level equivalent to 7 to 10% of the gross domestic product (GDP) of Russia. “However, for the moment, volatility panels are not favorable,” said Kolychev.
“From the point of view of sovereign budgetary reserves, it is important for us that the assets in which these reservations have been invested can be sold very quickly and without a significant price re -evaluation, so that our sale does not lead to the fact that we do not receive a ruble for a ruble, but 50 kopecks for a ruble,” said Kolychev. “And cryptographic assets are an asset with increased volatility.”
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Key dishes to remember
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Russia plans to use the cryptocurrency confiscated in criminal procedures “for the benefit of the State”.
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Digital currency confiscated in criminal cases can be sent to a special fund.
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The proposal comes in the midst of the progress of Russian officials on new legislation that would recognize cryptocurrencies as goods for criminal procedure.
The Russian position is considering “a special fund” for the confiscated crypto appeared first on 99Bitcoins.
