Новый закон о криптовалюте в России: каковы его последствия для правоприменения? Headline: New Cryptocurrency Law in Russia: What Are Its Implications for Law Enforcement?

On February 10, the State Duma of the Russian Federation approved, in its third reading, a law that establishes the protocol for the seizure and forfeiture of digital currencies in the context of criminal proceedings. Under this new regulation, cryptocurrencies are classified as property.

The confiscation of digital currencies and the devices enabling access to them will take place during investigative actions with the involvement of a specialist. The protocol will specify the type of asset, its quantity, and the identifying addresses. The storage devices and access information for the cryptocurrency will be kept sealed.

«Where technical capabilities permit,» digital currency may be transferred to a designated address for safekeeping. The government of the Russian Federation will determine the procedures for this process and the subsequent storage protocols.

Once seized, operations involving these assets are entirely or partially halted based on a court ruling. Cryptocurrency platforms are required to provide information of interest to the investigation.

The law awaits the approval of the Federation Council and the signature of the president. It will come into effect ten days after publication.

The document was developed by the Ministry of Justice of the Russian Federation in May 2025. It outlines only the general frameworks for legal application, with specific details to be defined through subsidiary legislation.

For instance, the law does not specify a method for calculating the amount of damage to be compensated by crypto assets, taking into account their volatility. The necessity for a mechanism to assess the value of digital currencies was specifically mentioned by the State Duma’s Financial Market Committee in the conclusion regarding the document.

«Concerning claims for ‘lost profits’ due to the temporary seizure of assets, the criminal process mainly accommodates actual damages rather than lost income. Although theoretically such claims could be possible within civil proceedings, their practical realization presents a complex and non-obvious issue, often depending on the existence of actual access to the crypto,» explained a legal expert.

To support this assertion, he pointed to a key provision in the law regarding the «availability of technical capability» for transferring seized funds. According to Likhunov, if the owner of a non-custodial wallet refuses to grant access (through private keys or a seed phrase), forced transfer will be impossible — the investigator will be able to seize only the physical storage device.

Questions also arise regarding the future interaction with cryptocurrency exchanges.

«To mitigate risks, major international platforms may ignore requests from Russian law enforcement, particularly if they have subsidiaries in EU jurisdictions that impose outright bans on providing services to Russian residents due to the sanctions regime,» commented the expert.

Particular challenges involve stablecoins (like USDT, USDC), whose issuers can only freeze assets at the request of regulators from the US or EU.

Until specific guidelines from the government emerge, cybersecurity measures to protect the special state wallet and penalties for those responsible in the event of hacking or compromise remain undefined.

There is a persistent risk of asset misappropriation by unscrupulous employees.

«The mandatory participation of an IT specialist in seizures and documentation in the protocol is more of a procedural formality than a genuinely effective safeguard. Real security will rely on the quality of internal instructions and the effectiveness of departmental oversight,» emphasized Likhunov.

By October 1, 2024, the Ministry of Finance, at the directive of the Ministry of Internal Affairs, was to address the establishment of a governmental digital platform for storing confiscated cryptocurrencies.

Based on the text of the adopted law, by 2026, the concept of a «super-service» has evolved into a system of special cryptocurrency wallets controlled by the government. The technical regulations governing their operation are yet to be determined and will be approved through subordinate legislation.

Additionally, mechanisms for the sale of confiscated digital assets for the benefit of the state will need to be established.

«Depositaries will serve as the ‘technical capability’ referenced in the articles concerning the arrest and seizure of digital currency. They will function for both private and state needs, ensuring secure storage. Until such guarantees are approved by the central bank, depositaries are unlikely to operate effectively, nor will the provisions of the adopted law be fully realized,» concluded the expert.

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Discussions regarding the inclusion of cryptocurrencies in criminal legislation for the investigation of their theft and the possibility of seizure have been ongoing since 2021. At that time, the Prosecutor General’s Office introduced initial norms allowing for the recognition of digital assets as objects of crime eligible for confiscation.

However, there was already some practice in the relevant procedures in Russia, albeit not always successful.