Russia is moving closer to selling Bitcoin confiscated during criminal investigations as officials work to create a legal structure for handling such digital assets, local media outlet RBC reported.
According to the report, Russia’s Federal Bailiff Service, in coordination with other government agencies, is leading efforts to turn seized crypto into government revenue.
Dmitry Aristov, head of the Federal Bailiff Service, confirmed that the authorities are developing a legal and operational mechanism to convert seized Bitcoin into state revenue.
The initiative is expected to begin with a high-profile case involving a former official caught in a crypto bribery scandal.
In June 2023, Russian investigators uncovered that Marat Tambiev, who once headed the Investigative Committee for the Tverskoy District, had accepted a bribe of 1,032.1 BTC. At the time, the stash was worth roughly $28 million.
The court ruled that Tambiev’s Bitcoin holdings were acquired through unexplained sources and sentenced him to 16 years in prison and a 500 million ruble fine.
Despite the conviction, Russian officials are still navigating how to confiscate and sell the digital assets legally.
Aristov explained that discussions are ongoing to determine how the state can sell the seized Bitcoin, noting the absence of existing legal pathways for crypto asset confiscation. He stated:
“During the criminal case, Bitcoins were found. Now we are working with the relevant authorities to develop a methodology for implementing this type of financial instrument.”
Meanwhile, this development contrasts with recent moves by the United States.
Last month, President Donald Trump signed an executive order to establish a strategic Bitcoin reserve that prevents the country from selling its BTC holdings. Instead, the US government plans to build this reserve through direct purchases and asset seizures.
Russia, however, is taking a more cautious stance. Deputy Finance Minister Vladimir Kolychev recently reiterated that the country has no intention of adding cryptocurrencies to its national reserves, citing their extreme volatility and unpredictable price swings.
Credit: Source link
