Russia is considering using cryptocurrency confiscated in criminal cases “in the interest of the state.” The state can proceed with plans to establish a government cryptocurrency fund using assets confiscated from criminal cases.
March 20, 2025, Evgeny Masharovmembers of the Public Chamber of Commerce Committee for the public review of bills and regulatory laws of the Russian Federation, said a special fund could be created “on the balance in which these (confiscated) cryptocurrencies are maintained.”
Masharov argued that the capitalization of the “fund” would increase significantly over time.
According to Masharov, on the one hand, this will help to remove property that is criminally acquired from the circulation. On the other hand, there is a specific purpose.
“The income received from cryptocurrency arrangements can be used for social, environmental and educational projects,” Masharov believes.
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Russia refrains from including Bitcoin in strategic preparation, future rethinking
destruction:
Russia has declared it would not include Bitcoin in its strategic reserves. pic.twitter.com/6nqjo8aymp
– Ashcryptoreal (@ashcryptoreal) March 5, 2025
Recently, the Russian Treasury Ministry revealed that it has not planned to include cryptocurrency in strategic reserves due to concerns about volatility.
However, Deputy Finance Minister Vladimir Kolchev suggested that this stance could change once the fund’s current assets reach levels equivalent to 7-10% of Russia’s gross domestic product (GDP). “But for now, the indications of volatility are not good,” Kolchev said.
“From the perspective of reserves in the sovereign budget, it is important that these reserves can sell the invested assets very quickly and without a massive price revaluation. “And crypto assets are assets that increase volatility.”
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Key takeout
Russia is considering using cryptocurrency confiscated in criminal cases “in the interest of the state.”
Digital currencies confiscated in criminal cases can be sent to a special fund.
The proposal comes amid developments in the Russian authorities’ new laws that recognize cryptocurrencies as property for criminal proceedings.
The Russian Post is pondering the “special fund” of confiscated codes.
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