Russia is considering a new means of handling seized cryptocurrency. Legal activists have urged that seized crypto currency be used to pay for public projects through a fund.
The legislation aims to treat cryptocurrencies as property in criminal law. Yevgeny Masharov, a member of Russia’s Public Chamber Commission, supports this move. Seized digital assets would belong to the state, he says.
Rather than storing them in inactive reserves, the authorities can create a dedicated fund. These cryptocurrencies’ worth can appreciate with time and become a part of the state’s property. The Ministry of Justice of Russia and the Investigative Committee have presented a bill on the legalization of cryptocurrency as property.
Russia’s Crypto fund proposal advances
Authorities would treat this as material evidence in criminal cases. Masharov sees this as a step toward removing illegally acquired digital assets from circulation. He also believes the fund’s proceeds can sponsor social, ecological, and educational projects.
The project emphasizes a move to harmonize Russian policies with global practice in terms of integrating digital assets into financial systems. The project may represent a different way of managing seized assets and, at the same time, aid public welfare.
Masharov has indicated readiness to conduct a public inquiry into the bill. This would involve meetings with investigators, business leaders, and tax authorities to forge a united front.
Russia’s policy shift gains momentum
The rise in popularity of cryptocurrency worldwide has led to governments reevaluating their regulatory approaches. The United States has already incorporated crypto reserves into its monetary policies.
Russia’s proposed plan could be a step in adopting a more formalized structure of digital asset management. Russian legal experts continue to debate ways to integrate digital currencies into national policies.
The proposed fund would serve as a model that other nations can follow if they would like to handle seized crypto assets. Authorities still need to examine the bill, but if they pass it, they will mark a turning point in Russia’s regulatory attitude toward cryptocurrency.
