The Supreme Court of the Russian Federation introduced cryptocurrency in the Criminal Code

The Plenum of the Supreme Court legally prohibited the laundering of revenues converted from virtual assets. Relevant amendments have been made to the court ruling of 2015 on practice in cases of money laundering, reports the portal “Right”.

Now the subject of the crimes under Art. 174 and 174.1 on the legalization of criminal proceeds, virtual assets are also considered – cryptocurrency obtained as a result of illegal activities.

We note that the plenary session did not introduce the term “cryptocurrency” into the Criminal Code of the Russian Federation, since it has not yet been officially registered in Russian legislation. However, the need for clarification on this issue is long overdue, explained in the Supreme Court.

“In recent years, there have been cases in practice when cryptocurrency obtained from the sale of drugs has been introduced into circulation by withdrawing cash from bank terminals,” the Supreme Court judge Alexander Chervotkin added.

Recall that in November 2018, a Krasnodar entrepreneur was fined 50,000 rubles for installing Bitcoin ATMs in several regions of Russia. According to the Code of Administrative Offenses, law enforcement officers explained that its activities were interpreted as “non-compliance with the requirements of legislation on countering the laundering of proceeds from crime.”

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