Russia’s Supreme Court Pushes to Classify Cryptocurrency as Property in Criminal Cases

On February 22nd, according to News.bitcoin citing TASS, the Russian Supreme Court is pushing to classify cryptocurrency as property in criminal cases, aiming to enhance law enforcement agencies' ability to track, freeze, and seize illegal digital assets. The Supreme Court is involved in drafting a "legislative initiative aimed at treating digital currency as property in criminal proceedings," which can strengthen law enforcement agencies' ability to deal with crypto-related crimes.

This is not the first time the Russian Supreme Court has dealt with cryptocurrency issues in legal proceedings. In 2019, the court ruled that exchanging bitcoins for rubles constitutes money laundering if the digital currency was obtained through illegal activities, especially those involving drug trafficking. The court's rulings further indicate that cryptocurrencies may fall within the jurisdiction of existing anti-money laundering laws. Additionally, in 2021, the court ruled that the electronic currency WMZ used in the Webmoney Transfer system is legally recognized as a property right, setting a precedent for Russia's legal treatment of digital assets. These early rulings suggest that the Supreme Court is working to integrate cryptocurrency into the country's judicial framework.