Russia plans to expand its criminal code with crypto-related provisions to enable law enforcement agencies to confiscate cryptocurrencies during criminal investigations.
The Russian government aims to define terms related to cryptocurrencies in the Criminal Code and the Criminal Procedure Code to enhance the investigation of related cases.
Authorities are concerned about the lack of clear guidelines for dealing with crypto-related crimes and legal issues, such as ownership, storage, and legal injunctions involving crypto wallets.
In addition to updating the criminal code, Russian officials are considering the establishment of a state-controlled stablecoin linked to foreign currencies to decrease reliance on Western-controlled digital assets.