Belarus Cryptocurrency Confiscation Law Will Come into Force?

The investigative committee of Belarus reportedly intends to prepare a law which would allow cryptocurrency confiscation from criminals.

10 March, 2020 | AtoZ Markets – Belarus state authority wants lawmakers to allow them to seize cryptocurrencies like Bitcoin from criminals. The Investigative Committee of Belarus is a centralized system of state law enforcement agencies. It reportedly intends to support a legal initiative which would give them the power to confiscate crypto.

Belarus Seeks Law To Cryptocurrency Confiscation From Criminals

The head of the committee, Ivan Noskevich, have discussed the initiative in an interview with a state-owned television station. According to the executive, Belarus does not have a law that would allow it to confiscate digital currency through enforcement measures. Even if the committee aims to obtain authorization to seize digital currency. He said:

We regularly make proposals for legislative changes, especially in the criminal field, that concerns us more particularly. The opinion of the Investigative Committee is the possibility of seizing the cryptocurrency during the criminal proceedings. Decree No. 8 allows us to make such a proposal, since already during criminal investigations, we are faced with situations where the object of the crime is the cryptocurrency.

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Amend Existing Criminal Procedure Law

Noskevich hopes Belarusian lawmakers will respect the commission’s position and make the necessary changes to the procedural law already in place. He stated:

“We have encountered such cases before, but there was no legal regulation of the cryptocurrency seizure mechanism. I hope that legislators will listen to the opinion of the Investigative Committee and that such amendments will be introduced into the criminal procedure legislation “.

According to the official, the committee encountered problems during the investigation of criminal cases involving cryptocurrencies in the context of the offence. Consequently, the Investigative Committee proposed to modify the existing criminal procedural law to allow the authority to seize crypto in such cases. Besides, Mr. Noskevich believes that the authority should be able to confiscate the crypto from actors who used it in profit-motivated crimes.

Belarusian President Alexander Lukashenko would have legalized cryptocurrencies in the country in 2017. But, Belarus does not appear to have been very active in terms of developments related to crypto so far. Recently, the Prosecutor General of Belarus expressed concern over the role of crypto in tax fraud in June 2019. Previously, Belarus’s largest bank, Belarusbank is said to have considered to set up a crypto exchange.

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