Сryptocurrency and law

The Supreme Court of Russia introduced criminal liability for money laundering using cryptocurrency
In Russia, a plenary session of the Supreme Court approved amendments to the anti-legalization decision of 2015, prohibiting money laundering using cryptocurrencies and, thus, establishing responsibility for such actions as financial transactions and transactions made to legalize illegally obtained funds. At the same time, the plenum did not introduce the definition of cryptocurrency in the document.

“The subject of the crimes provided for in Articles 174 and 174.1 of the Criminal Code of the Russian Federation may be monetary assets converted from virtual assets (cryptocurrency) acquired as a result of the commission of a crime,” the new version of the resolution says.

The amendment is related to the provisions of Article 1 of the Council of Europe Convention on Laundering, Detection, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism of May 16, 2005 and taking into account Recommendation 15 of the Financial Action Task Force on Money Laundering (FATF).

Recall that, according to the Minister of Justice of the Russian Federation Alexander Konovalov, cryptocurrencies do not need to be regulated as a special type of object of civil rights, since they fully comply with the concept of other property that has already been included in civil law.ial_news/20190226/295400253.html) to the provisions of Article 1 of the Council of Europe Convention on Laundering, Detection, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism of May 16, 2005 and taking into account Recommendation 15 of the Financial Action Task Force on Money Laundering (FATF).

Recall that, according to the Minister of Justice of the Russian Federation Alexander Konovalov, cryptocurrencies do not need to be regulated as a special type of object of civil rights, since they fully comply with the concept of other property that has already been included in civil law.