• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Stock

Russian authorities can now convert seized Bitcoin into state funds

by April 3, 2025
by April 3, 2025

Russian authorities are building a legal and operational framework to convert seized Bitcoin (BTC) into cash for the state treasury, as the country grapples with regulatory uncertainty surrounding cryptoassets.

The effort, led by the Federal Bailiff Service (FSSP), follows the confiscation of BTC 1,032 from former investigator Marat Tambiev, valued at around $10 million, marking a major test case for Russia’s evolving crypto policies.

In a video published on the Federation Council’s RuTube channel, FSSP chief Dmitry Aristov said Russia is using this legal precedent to explore mechanisms for transforming confiscated digital currencies into state revenue.

However, a comprehensive legislative solution is still pending.

FSSP prepares crypto sale

Dmitry Aristov, head of the FSSP, addressed the Federation Council’s Committee on Constitutional Legislation and State Building, describing Bitcoin as a “problematic asset” for law enforcement.

He confirmed that bailiffs had confiscated BTC in at least one criminal case and are now collaborating with other state bodies to convert the coins into state-held funds.

The committee’s inquiry focused on the protocols for confiscating cryptocurrencies, and Aristov is said to have pointed to the Tambiev case as a legal basis.

During the investigation, law enforcement seized BTC from the former senior investigator, who was found guilty of accepting cryptocurrency bribes from members of the Infraud Organization hacker group. Tambiev was sentenced to 16 years in prison.

Aristov noted that until a bill is passed defining the legal status of Bitcoin and other coins, a robust framework for consistent seizure and conversion remains out of reach.

Tambiev case sets precedent

The case of Marat Tambiev has become a landmark for Russian legal and enforcement authorities.

In 2024, he was convicted of accepting bribes in Bitcoin from an international cybercrime group in exchange for obstructing a criminal investigation.

The FSSP seized BTC 1,032 from Tambiev, a sum worth approximately $10 million, making it one of the largest crypto seizures by a Russian state body.

Following the seizure, the Russian Treasury began working on monetising the confiscated BTC.

In January 2025, authorities confirmed they had started transferring the crypto into state accounts and planned to begin selling it off.

The Civic Chamber has also weighed in, proposing a new state fund to manage confiscated cryptoassets.

The Chamber recommended that proceeds from the sale of digital currencies be allocated to fund public projects, further tying the need for legislative clarity to broader economic and social policy objectives.

Crypto policy remains divided

Despite two key pieces of legislation passed in 2024—one recognising crypto mining as a legitimate business, and another allowing crypto in international trade within a Central Bank-run sandbox—the country’s broader stance on digital assets remains conflicted.

A long-standing law still prohibits the use of cryptocurrencies for payments within Russia.

The Central Bank continues to advocate for stricter controls, proposing bans on retail crypto investment and on crypto exchanges operating outside its sandbox environment.

However, other ministries and major industrial miners favour regulation over prohibition. They argue for a more open approach, allowing regulated crypto exchanges and clearer legal standards for transactions.

The result is a policy gridlock that complicates enforcement efforts like those of the FSSP.

Crypto fund and sandbox plans

The Civic Chamber’s suggestion of a centralised fund for seized cryptocurrencies indicates an attempt to institutionalise the handling of digital assets within the state system.

If adopted, it would formalise the redistribution of crypto-derived revenue into public welfare.

Meanwhile, the Central Bank’s sandbox continues to allow qualified investors to trade crypto in a restricted environment.

Although this offers a limited path forward, a broader framework is still needed to support agencies like the FSSP in transforming digital asset seizures into practical financial outcomes.

The post Russian authorities can now convert seized Bitcoin into state funds appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Mitsubishi commits $27B investment over 3 years to fuel growth
next post
Is there a place to hide as DIA, QQQ, and SPY ETFs plummet?

Related Posts

Adani Group brings more women leaders into key...

August 28, 2025

Cambricon stock price surged: here’s why it may...

August 28, 2025

India’s instant delivery race hits $15 billion, but...

August 28, 2025

Google to invest $9 billion in Virginia data...

August 28, 2025

Europe markets open: Stocks rise as Nvidia earnings...

August 28, 2025

Russian LNG tanker from sanctioned plant makes first...

August 28, 2025

Sotheby’s to launch first Abu Dhabi auction with...

August 28, 2025

Pernod Ricard shares climb as sales, profit beat...

August 28, 2025

Tesla sales in Europe fall 40% as BYD...

August 28, 2025

Berkshire Hathaway lifts Mitsubishi stake above 10% in...

August 28, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • Bolivia’s Defeat of Socialism Signals a Continental Realignment

    August 28, 2025
  • Economic Measurement and the Mirage of Exactness

    August 28, 2025
  • Netmore Partners with Detectronic on Multi-Year Wastewater Management Sensor Deployment

    August 28, 2025
  • Bolivia’s Defeat of Socialism Signals a Continental Realignment

    August 28, 2025
  • Economic Measurement and the Mirage of Exactness

    August 28, 2025
  • Eseye Solidifies Global IoT Leadership with Leading Position in Brazil’s High-Growth Cellular Connectivity Market

    August 28, 2025

Editors’ Picks

  • 1

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 2

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 5

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 6

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025
  • 7

    Elon Musk says federal employees must fill out productivity reports or resign

    February 23, 2025

Categories

  • Economy (2,356)
  • Editor's Pick (228)
  • Investing (185)
  • Stock (1,593)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

From Hyundai, Kia to Tesla: here’s how...

March 27, 2025

Nvidia hits $3.17 tn, closes in on...

May 14, 2025

Rolls-Royce share price forecast for July: Buy...

July 7, 2025