Russia’s Supreme Court: Pushing to classify cryptocurrencies as property in criminal cases

CoinRank News: Russias Supreme Court is pushing for the classification of cryptocurrencies as property in criminal cases, aiming to strengthen law enforcements ability 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 law enforcements ability to deal with crypto-related crimes. Notably, this is not the first time the Russian Supreme Court has dealt with cryptocurrency in legal proceedings. In 2019, the court ruled that exchanging Bitcoin for rubles constituted money laundering if the digital currency was obtained through illegal activities, especially in cases involving drug trafficking. The courts ruling further indicated that cryptocurrencies may fall under the jurisdiction of existing anti-money laundering laws. Additionally, in 2021, the court ruled that WMZ, an electronic currency used in the Webmoney Transfer system, was legally recognized as an object of civil rights, setting a precedent for Russias legal treatment of digital assets. These early rulings indicate that the Supreme Court is working to incorporate cryptocurrencies into the countrys judicial framework. (Bitcoincom.News)