The State Duma of Russia has passed a cryptocurrency confiscation bill, establishing its property status

According to Bitsmedia, the State Duma of Russia has passed a law in its third and final reading that clearly outlines the procedures for the confiscation and freezing of cryptocurrencies in criminal cases.

The bill confirms the legal status of cryptocurrencies as property and requires detailed documentation of asset types, quantities, and wallet addresses during confiscation. The bill allows confiscated cryptocurrencies to be transferred to a designated state wallet and authorizes government agencies to cooperate with foreign exchanges to implement confiscation measures. The bill still requires approval from the Federation Council and the president's signature, and will take effect 10 days after its official publication.

Previously, the Constitutional Court of Russia had allowed citizens to protect their digital currency rights in court, even if not declared to the tax authorities.