Amendments may be made to Russian legislation regarding the confiscation of cryptocurrencies.

Russian Prosecutor General Igor Krasnov called the “criminal use of cryptocurrencies in the country” a serious challenge and announced that legislative amendments are being prepared to confiscate digital assets that have become sources of criminal proceeds. He made this announcement at a conference of European prosecutors, according to TASS.

“Work is currently underway to amend criminal and criminal procedure legislation. This will allow for the application of restrictive measures and confiscation against virtual assets,” Krasnov said.

According to him, cryptocurrencies are also used for corrupt purposes:

“The latency of these criminal acts has recently been exacerbated by the use of crypto assets as bribes and the use of cryptocurrency exchange transactions as a way to launder stolen budget funds.”

Last year, Krasnov said that criminals were widely using cryptocurrencies for illegal activities.

According to Chainalysis, criminal-related cryptocurrency transactions accounted for 0.34% of total volume in 2020.