Russian Supreme Court will allow the authorities to confiscate Cryptocurrency
On the said local reports at News Agency TASS. The Russian Supreme Court and some numbers of federal institutions are preparing to release the drafts legislation, issuing the authorities to confiscate cryptocurrency and this proposal will end this 2021.
These insitutions are preparing for the new regulations with plethora of law enforcement, financial entities and judicial. This is made by the decision of Russian Federal Financial Monitoring Service or Rosfinmonitoring, The office of the Prosecutor General, The Federal Customs Service, The investigative comittee, with The Ministry and Federal Security services.
Based on the reports in late November, Some banks told state-run news Agency RIA Novosti that they will supporting the national ban on cryptocurrency payments because of the high significant risk and can be use and act as terrorism and some criminal activities including the money laundering.
Some Russia's crypto Legislation are doing deep analyzing about this issue, and might be stop those legally trading markets or crypto exchanges such as Bitcoin (BTC), Ethereum (ETH) and some major altcoins on regulated domestic Exchanges.
We will see what happen next in the couple of days, since Russian Central Bank already says, it would support Crypto Ban.
On other news, upbit already confirmed almost 350,000 ETH or ($51,607,500) has been stolen with 5 crypto exchanges close in China.
