The Russian government has received a draft bill proposing the recognition of cryptocurrencies as property to address issues related to asset seizure and confiscation. This was reported by RBC, citing a statement from Alexander Bastrykin, Chairman of the Investigative Committee.

“A meticulous joint effort has been conducted on the necessity of recognizing digital currency as property for the purposes of criminal and criminal procedural law, resolving issues related to the seizure of digital currency, recognizing it as material evidence, and determining the specifics of its confiscation during investigative actions,” the official stated.

According to RBC, the Investigative Committee has been pushing for these regulations since at least 2021. At the time, Bastrykin noted that without such measures, it would be difficult to effectively combat illegal digital asset transactions.

Earlier in March, Reuters reported on the use of cryptocurrencies in Russian oil trade deals.