Putin signs new bill granting Russian courts the authority to confiscate Bitcoin and other cryptocurrencies in criminal investigations

ChainCatcher reports that, according to Kommersant, Russian President Vladimir Putin has signed a new law granting Russian courts new powers to confiscate cryptocurrencies in criminal investigations.

The law will amend the Russian Criminal Code to classify cryptocurrencies as intangible property. Elena Ardabyeva, Deputy Minister of the Russian Ministry of Justice, stated that the law will formally incorporate existing digital asset confiscation agreements into the legal framework and provide legal channels for cooperation with foreign cryptocurrency exchanges. The law stipulates that requests from police or prosecutors to confiscate cryptocurrencies must include detailed information such as the type of tokens, quantity, and wallet address. Experts say that the Kremlin may begin restricting citizens' access to overseas cryptocurrency exchanges starting this year.