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While the US is working on a Strategic Bitcoin Reserve, Russia is preparing to take a critical step for BTC!
While the US is making critical moves to create a strategic Bitcoin reserve, some countries have also started reserve efforts.
In contrast, while some countries rejected the idea of reserves, Russia was also among these countries.
At this point, Russia is planning a legal pathway for the sale of Bitcoin seized from criminal cases.
Federal Bailiff Service of Russia has taken action to increase government revenue.
The institution is trying to develop a legal framework to sell the Bitcoins seized from criminal cases.
In a meeting of the Russian Senate's Committee on Constitutional Legislation and State Building, Head of the Federal Bailiff Service (FSSP) Dmitry Aristov described Bitcoin as a "problematic asset."
FSSP President Aristov stated that they are working to sell the seized BTC in response to a Senator's question about "protocols for confiscating cryptocurrencies."
Aristov also added that Russia must legally determine the status of Bitcoin in Russia above all else.
The initial target of this operation is expected to be the bribery case involving 1,032.1 BTC. These BTCs had been seized and transferred to the Treasury.