Preparation of a New Draft for Bitcoin (BTC) and Altcoins from Russia! Here are the details...

After the invasion of Ukraine, in response to the imposed sanctions, Russia, which is approaching Bitcoin (BTC) and cryptocurrencies, is making new regulations.

According to local news agency Tass, the Russian Ministry of Justice has prepared a bill that classifies Bitcoin and cryptocurrencies as seizable assets.

This draft facilitates the confiscation and subsequent forfeiture processes of cryptocurrencies such as Bitcoin and classifies them as property.

The bill was first introduced by Russia's Deputy Minister of Justice Vadim Fedorov at the ( St. Petersburg International Legal Forum ).

Fedorov stated that this bill will outline the necessary procedures and considerations for facilitating and accelerating the confiscation of BTC and cryptocurrencies.

"The Ministry of Justice has prepared a draft law classifying digital currencies as property for the purposes of seizure and subsequent confiscation procedures."

This bill will accelerate the seizure and confiscation of digital assets.

Because digital assets cannot be physically seized or placed in a safe like cash and valuable items. This made transactions difficult.