Russia is approaching the sale of Bitcoin, which was confiscated during criminal investigations, and authorities are working to create legal structures to handle such digital assets, local media outlet RBC reported.
The report states that Russia’s Federal Enforcement Services is working with other government agencies to make major efforts to turn seized codes into government revenue.
Dmitry Aristophe, head of Federal Enforcement Services, confirmed that authorities are developing legal and operational mechanisms to convert seized Bitcoin into state revenue.
The initiative is expected to start with a famous incident involving a former employee caught up in a crypto bribery scandal.
In June 2023, Russian investigators revealed that Marat Tambiev, who once headed the investigation committee in the Tavakoy district, had accepted 1,032.1 BTC of bribes. At the time, the stash was worth around $28 million.
The court found that Tambiev’s Bitcoin holdings had been acquired through an unexplained source and sentenced him to a 16-year prison and a fine of 500 million rubles.
Despite the conviction, Russian officials are still navigating how to legally confiscate and sell digital assets.
Aristophe explained that debate is ongoing to determine how the state can sell seized Bitcoin, noting that there are no existing legal paths due to the confiscation of crypto assets. He said:
“During a criminal case, Bitcoin was discovered. Now, we are working with relevant authorities to develop a methodology for implementing this type of financial product.”
Meanwhile, this development is in contrast to recent developments by the US.
Last month, President Donald Trump signed an executive order to establish a strategic Bitcoin sanctuary that would prevent the country from selling BTC holdings. Instead, the US government plans to build this reserve through direct purchases and seizures of assets.
However, Russia is taking a more cautious attitude. Deputy Finance Minister Vladimir Kolchev recently reiterated that the country has no intention of adding cryptocurrency to its national reserves, citing its extreme volatility and unpredictable price fluctuations.
(TagStoTRASSLATE) Bitcoin (T) Russia (T) Crime (T) Civil (T) Regulations
