Russia is bolstering its approach to digital asset regulation through new legislation aimed at streamlining the seizure process. During the 13th St. Petersburg International Legal Forum, Russia’s Ministry of Justice outlined plans to address the impact of emerging technologies on crime and clarified legal procedures for confiscating digital assets. Deputy Minister of Justice Vadim Fedorov emphasized that the proposed law will categorize cryptocurrencies as seizable property and include specific requirements for seizing them, such as those used in criminal activities. These might include confiscation of physical devices like hardware wallets that store key information from illicit transactions. Furthermore, the legislation will mandate transaction bans for confiscated assets. Fedorov also revealed expert involvement to ensure safe seizure procedures and address potential victim compensation claims. However, he acknowledged the difficulty associated with seizing decentralized digital assets due to their nature, which makes them appealing to criminals while potentially challenging to physically seize. The proposed measures primarily aim to mitigate criminal threats stemming from cryptocurrency-related activities within Russia’s borders.