The Russian authorities are considering establishing a governmental coding fund that was seized in the context of criminal procedures.
Evgeny Masharov, member of the Russian Civil ChamberThis proposal was made with the aim of allocating revenues from the encrypted currencies confiscated to Social, educational and environmental projects.
Russia and confiscation of encryption: a growing phenomenon
Mashrouf Assure How can the creation of a government currency box represent an advantage for the country.
“The confiscated currencies must work in the context of criminal procedures for the benefit of the state.”He stated, as reported by Tass on March 20.
The idea is to use these assets in a strategic perspective, allocate them for general interest and providing a more organized model compared to the current management of these assets.
The initiative appeared in the context of the increasing interest of the Russian government towards digital resources.
Alexander Pestekin, Chairman of the Investigation Committee of RussiaHe confirmed that a relevant bill has already been sent to the government for evaluation, as reported by RBC on March 19.
In recent years, the Russian authorities have intensified the efforts to regulate the Crossed Currency Administration that was seized in the judicial contexts.
Since 2021, Russian public prosecutors have been on legal initiatives to allow the government to seize encrypted currencies illegally obtained.But so far a clear organizational framework has not been determined on how to use this money.
Meanwhile, although there is no specific organization, the Russian government has already confiscated millions of dollars of cryptocurrencies, often in related cases The illegal operations that also included law enforcement officials.
Currently, there are no accurate regulations that determine a place and how these assets should be redistributedMake the organization more essential.
Economic expectations and the central bank resistance
Despite the increasing government interest in strategic use of confiscated encrypted currencies, the Bank of Russia maintains a skeptical position on investments in digital assets.
Elvira Nebulinina, Ruler of the Russian Central BankShe repeatedly repeatedly repeated her opposition to any form of investment in the Central Bank.
“Investing in the cryptocurrency does not make sense for the central bank in terms of maintaining value, because it is one of the very volatile assets.”Nabilina stated in December 2024.
His most restricted strategic position reflects Russia in the encrypted currency sector, despite the government’s openness to its use in the economic field.
Idea a “Cryptocurrency Social Fund” box Masharov can prove that it is an effective solution to provide a useful destination for the seizure of the state.
However, it remains to see how the Russian government will merge this proposal by organizing it on encrypted currencies.
The discussion between the financial authorities and the government is still open: While Parliament and investigative authorities are considering the concrete use of encrypted currencies confiscated, the central bank continues to curb its potential requests in the national economic system.
Therefore, the implementation of this proposal depends on Russia’s ability to balance economic, legal and financial interests in a constantly developed sector.
