Russia Considers “An Exclusive Fund” For Seized Cryptocurrency
Russia is considering utilizing confiscated cryptocurrency in legal proceedings “for the benefit of the state.” The nation may advance plans to create a governmental digital currency fund using assets seized from criminal cases.
On 20 March 2025, Evgeny Masharov, a member of the Public Chamber Commission of the Russian Federation for reviewing bills and regulatory measures, stated that a dedicated fund might be established “on the balance of which these (confiscated) cryptocurrencies would be safeguarded.”
Masharov asserted that the fund’s capitalization would grow significantly over time.
He explained that this would help eliminate criminally obtained property from circulation, while simultaneously having a specific purpose.
“Ultimately, the income generated from the placement of cryptocurrencies could be utilized for social, environmental, and educational initiatives,” Masharov opines.
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Russia Delays Including BTC in Strategic Reserves, Future Review Possible
BREAKING:
RUSSIA CONFIRMS NO PLANS TO ADD Bitcoin TO ITS STRATEGIC RESERVES. pic.twitter.com/6NQjO8aYmP
— Ash Crypto (@Ashcryptoreal) March 5, 2025
Recently, the Russian Ministry of Finance disclosed that it currently has no intentions of including cryptocurrencies in the strategic reserve due to concerns over market fluctuation.
Nevertheless, Deputy Finance Minister Vladimir Kolychev indicated that this position could be reassessed once the liquid assets of the fund match 7-10% of Russia’s gross domestic product (GDP). “At this moment, however, the signs of market fluctuation are not encouraging,” Kolychev noted.
“From a perspective of sovereign budget reserves, it is critical for us that the assets in which these reserves are invested can be liquidated swiftly and without significant price adjustments, ensuring that our sale results in a return of a ruble for a ruble and not 50 kopecks for a ruble,” Kolychev explained. “Crypto assets are characterized by heightened price swings.”
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Key Takeaways
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Russia is contemplating the use of confiscated crypto asset in criminal proceedings “for the good of the state.”
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Digital currencies seized in criminal cases may be allocated to a dedicated fund.
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The initiative aligns with Russian officials’ advancement on new legislation acknowledging cryptocurrencies as property for criminal procedure applications.
The article Russia Contemplates “A Special Fund” For Confiscated Crypto appeared first on 99Bitcoins.
