#BTC110KToday? 🚨*Breaking News: Russia Moves to Classify Cryptocurrency as Property*

Russia has drafted a bill to classify Bitcoin

and other crypto currencies as property under the Criminal Code, paving the way for their seizure in criminal cases. This move aims to provide law enforcement with clearer guidelines for handling crypto-related investigations and confiscations.

*Key Points:*

- *Legislative Development*: The Ministry of Justice has drafted the bill, which is set to be presented to the State Duma shortly.

- *Clarifying Crypto Status*: The bill seeks to address the current lack of legal definitions for crypto-related terms, making it challenging for authorities to investigate and confiscate cryptocurrency assets.

- *Law Enforcement Implications*: If passed, the law would facilitate the seizure of crypto currencies in criminal cases, providing clarity on procedures for handling crypto assets held in online wallets.

- *Expert Opinions*: While some legal professionals welcome the move, others raise concerns about protecting the rights of law-abiding citizens and the need for law enforcement training.

In a related development, President Vladimir Putin recently signed a law recognizing crypto currencies as property for foreign trade settlements, allowing for their integration into Russia's economy while maintaining strict oversight.$BTC