Putin Signs Law Classifying Cryptocurrencies as Property for Seizure

Crypto Assets Integrated into Judicial Processes Russian President Vladimir Putin has approved a new legal regulation clarifying the procedure for seizing digital currencies during criminal investigations.
The document, published on the official legal portal, officially defines the legal status of crypto assets and their role in judicial proceedings.
Digital Currencies Gain 'Property' Status The new regulation recognizes digital currencies as "property" under the Russian Criminal Code and the Code of Criminal Procedure.
This step aims to fill a legal gap regarding the identification, seizure, and confiscation of digital assets that were previously not explicitly covered by legislation.
Seizure and Storage Methods Established Under the law, investigative authorities can follow different methods depending on the type of digital asset.
Officials may seize hardware such as servers and computers containing the cryptocurrency or access codes.
Additionally, where technically feasible, assets can be protected by transferring them to a secure digital address.
The law mandates consulting expert opinions to ensure the security of digital assets during these processes, and seizure decisions must be issued by courts.
The regulation also covers assets held in "hot wallets" on cryptocurrency exchanges.
The law will come into effect 10 days after its official publication.