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The Russian Supreme Court is pushing to classify cryptocurrencies as property in criminal cases

On February 22, according to News.bitcoin, citing Tass news agency, Russia's Supreme Court is pushing to classify cryptocurrencies as property in criminal cases, aiming to strengthen the ability of law enforcement to track, freeze and confiscate illegal digital assets. The Supreme Court is participating in the drafting of a "legislative initiative aimed at treating digital currencies as property in criminal proceedings," a move that could strengthen the ability of law enforcement to deal with crypto-related crimes. This is not the first time Russia's Supreme Court has dealt with the issue of cryptocurrencies in legal proceedings. In 2019, the court ruled that exchanging bitcoin for rubles constitutes money laundering if the digital currency was obtained through illegal activities, especially in cases involving drug dealing. The court's ruling further suggests that cryptocurrencies may fall under the jurisdiction of existing anti-money laundering laws. Furthermore, in 2021, the court ruled that the electronic currency WMZ, used in the Webmoney Transfer system, was legally recognized as a civil rights object, setting a precedent for Russia's legal treatment of digital assets. These earlier rulings indicate that the Supreme Court is working to bring cryptocurrencies into the country's judicial framework.